{"id":13434,"date":"2021-08-31T09:45:49","date_gmt":"2021-08-31T09:45:49","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/31\/european-shares-edge-higher-in-cautious-trade-2\/"},"modified":"2021-08-31T09:45:49","modified_gmt":"2021-08-31T09:45:49","slug":"european-shares-edge-higher-in-cautious-trade-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/31\/european-shares-edge-higher-in-cautious-trade-2\/","title":{"rendered":"European Shares Edge Higher In Cautious Trade"},"content":{"rendered":"
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European stocks were broadly higher on Tuesday as signs of a slowdown in China’s economy<\/span> spurred hopes for more policy support.<\/p>\n

Official data showed that China’s services industry contracted in August for the first time since the height of the pandemic early last year.<\/p>\n

Closer home, the number of unemployed people in Germany declined slightly in August, while the country’s jobless rate remained steady at 5.6 percent, official statistics showed.<\/p>\n

Consumer prices in the euro zone rose 3.0 percent year-on-year in August, the fastest rate of growth since November 2011, according to a first estimate released by Eurostat, the European Union’s statistics agency. Prices rose an annual 2.2 percent in July. <\/p>\n

The pan European Stoxx 600 edged up 0.2 percent to 473.83 after ending Monday’s session flat with a positive bias. <\/p>\n

The German DAX gained 0.7 percent and France’s CAC 40 index rose 0.3 percent, while the U.K.’s FTSE 100 was little changed. <\/p>\n

Dutch technology<\/span> investor Prosus NV surged 4.4 percent. The company has agreed to buy Indian payments platform BillDesk for $4.7 billion.<\/p>\n

Biotech company Medivir AB rallied 2.2 percent after it received approval from the British Medicines & Healthcare products Regulatory Agency for the phase 1\/2a combination study with MIV-818 against liver cancer. <\/p>\n

Bunzl Plc fell 2.6 percent after the British business<\/span> supplies distributor flagged that it was facing supply chain disruptions, product shortages and a labour crunch in certain markets.<\/p>\n

Travel-related stocks declined after European Union governments agreed to remove the United States from the EU’s safe travel list.<\/p>\n

German airline Lufthansa dropped 1.1 percent, British Airways-owner IAG lost 2.7 percent, Wizz Air Holdings shed 2.4 percent, Ryanair Holdings fell 2.2 percent and Easyjet gave up 1.5 percent.<\/p>\n

Ferguson rose about 2 percent after JP Morgan raised its price target on the plumbing and heating parts distributor. <\/p>\n<\/p>\n<\/div>\n