{"id":15967,"date":"2021-11-11T10:06:07","date_gmt":"2021-11-11T10:06:07","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/11\/11\/european-shares-rise-on-china-policy-easing-hopes\/"},"modified":"2021-11-11T10:06:07","modified_gmt":"2021-11-11T10:06:07","slug":"european-shares-rise-on-china-policy-easing-hopes","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/11\/11\/european-shares-rise-on-china-policy-easing-hopes\/","title":{"rendered":"European Shares Rise On China Policy Easing Hopes"},"content":{"rendered":"
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European stocks eked out modest gains in cautious trade Thursday amid hopes that Beijing will take steps to ease the cash crunch for embattled developers.<\/p>\n

Investors heaved a sigh of relief after cash-strapped developer China Evergrande Group averted a destabilizing default at the last minute for the third time in the past month.<\/p>\n

The pan European Stoxx 600 was up 0.2 percent at 484.43 after gaining 0.2 percent in the previous session. <\/p>\n

The German DAX edged up 0.2 percent, France’s CAC 40 index rose 0.3 percent and the U.K.’s FTSE 100 was up 0.4 percent. <\/p>\n

British retailer Burberry Group slumped 6.6 percent after maintaining its medium-term guidance for high single-digit top line growth.<\/p>\n

Aviva rose about 1 percent. The insurer said it is on track to return at least 4 billion pounds ($5.41 billion) to shareholders and meet cost saving targets.<\/p>\n

3i Group jumped 3 percent after the private equity company posted a rise in first-half pre-tax operating profits.<\/p>\n

Johnson Matthey shares plunged more than 16 percent. The chemicals company said it would exit its battery materials business<\/span> due to crushing competition. Also, its current boss is stepping down.<\/p>\n

Engie SA shares rose over 2 percent. The French natural gas and electricity supplier and Cr\u00e9dit Agricole Assurances announced an agreement to acquire a 97.33 percent stake of Eolia Renovables from Canadian institutional investment manager Alberta Investment Management Corp.<\/p>\n

German industrial services giant Bilfinger rose about 1 percent after appointing its new CEO.<\/p>\n

SGL Carbon surged 2.6 percent as it reported improved earnings in the 9-month period on higher sales.<\/p>\n

Delivery Hero advanced 2.2 percent. The online food-delivery service reported that its third-quarter total segment revenues climbed 89 percent.<\/p>\n

Sika soared 8.7 percent after it agreed to buy German rival MBCC Group for 5.5 billion francs ($6 billion).<\/p>\n

Steelmaker Arcelor Mittal gained 2.1 percent despite reporting slightly lower than expected third-quarter earnings.<\/p>\n

The British pound eased after official data showed the U.K. economy<\/span> expanded at a slower pace in the third quarter.<\/p>\n

Gross domestic product grew 1.3 percent sequentially in the third quarter, but weaker than the 5.5 percent expansion seen in the previous quarter. Nonetheless, this was the second consecutive growth.<\/p>\n

The level of GDP was 2.1 percent below where it was before the coronavirus<\/span> pandemic at the end of 2019. On a monthly basis, GDP growth improved to 0.6 percent from revised 0.2 percent in August. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n