European Shares Little Changed; German Ifo Survey Data Awaited
(RTTNews) - European stocks hovered near record levels on Monday, driven by optimism about easing U.S.-China trade tensions.
Traders also looked ahead to a busy week of central bank announcements that includes rate decisions from the Federal Reserve, European Central Bank and the Bank of Japan.
The U.S. central bank is widely expected to cut rates by 25 basis points, while the ECB and BOJ are expected to leave rates unchanged.
On the earnings front, mega technology companies, including Apple Inc. and Microsoft Corp. while be unveiling their earnings results this week.
The pan European Stoxx 600 was marginally higher at 575.92 after reaching a record high of 577.26 earlier.
The German DAX edged up by 0.2 percent ahead of the release of the German IFO Business Survey data later in the day.
France's CAC 40 was marginally higher while the U.K.'s FTSE 100 traded flat with a negative bias.
Porsche shares rallied 3.1 percent even as profits at the German carmaker plunged by nearly 96 percent in the first nine months of 2025, owing to heavy costs related with scaling back its electric-vehicle strategy and due to their declining sales in China.
Swiss drugmaker Novartis declined 1.4 percent after it agreed to buy Avidity Biosciences for $12 billion in cash.
London-headquartered lender HSBC Holdings dropped 1.3 percent after announcing a $1.1 billion provision for a Madoff lawsuit appeal loss in its third-quarter results.
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