European Shares Edge Higher In Cautious Trade
(RTTNews) - European stocks traded higher on Monday as world leaders gathered in Canada for the G7 summit, which will address global security, economic resilience, and tech cooperation. Discussions to resolve the Middle East crisis will also be a top priority.
The Israel-Iran conflict entered its fourth day, with fresh missile exchanges.
Iranian strikes on Tel Aviv, Haifa, and Petah Tikva killed at least five, injured dozens, and damaged key infrastructure, including a power plant.
Markets also looked ahead to monetary policy decisions from the Federal Reserve, the Bank of Japan and the Bank of England due later in the week.
The pan-European STOXX 600 rose 0.2 percent to 54.23 after falling 0.9 percent on Friday.
The German DAX edged up by 0.4 percent, France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 added 0.4 percent.
Entain shares soared 10 percent. The sports betting and gaming group hiked the annual earnings outlook for its U.S. joint venture BetMGM.
Spectris, a precision instrumentation and controls company, surged 6 percent after rejecting a second takeover proposal from private equity firm KKR.
Gucci parent Kering jumped nearly 10 percent after reports that it is close to appointing Renault's ex-boss Luca de Meo as its new CEO.
Renault shares slumped 6.5 percent after Nissan CEO Ivan Espinosa announced plans to reduce the company's stake in its French partner.
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