{"id":16122,"date":"2021-11-16T09:56:51","date_gmt":"2021-11-16T09:56:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/11\/16\/european-shares-mostly-higher-after-biden-xi-meeting\/"},"modified":"2021-11-16T09:56:51","modified_gmt":"2021-11-16T09:56:51","slug":"european-shares-mostly-higher-after-biden-xi-meeting","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/11\/16\/european-shares-mostly-higher-after-biden-xi-meeting\/","title":{"rendered":"European Shares Mostly Higher After Biden-Xi Meeting"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks were broadly higher on Tuesday after a key virtual summit between U.S. President Joe Biden and Chinese leader Xi Jinping saw both sides signaling a stabilization in the fraught relationship.<\/p>\n<p>However, there was no breakthrough on issues concerning both nations.<\/p>\n<p>The pan European Stoxx 600 inched up 0.2 percent to 489.21 after rising 0.4 percent on Monday. <\/p>\n<p>The German DAX and France&#8217;s CAC 40 index were also up around 0.2 percent each while the U.K.&#8217;s FTSE 100 was down 0.1 percent.<\/p>\n<p>The euro was huddled at a 16-month low after European Central Bank President Christine Lagarde doubled down on her assessment that euro-area inflation will ease and conditions for a rate hike in 2022 are &#8220;very unlikely&#8221; to be met.<\/p>\n<p>The British pound rose against its major counterparts as the nation&#8217;s employment rose in the third quarter, easing worries about the labor market and fueling hopes for a rate hike by the Bank of England in December.<\/p>\n<p>Data from the Office for National Statistics showed that the employment rate increased 0.4 percentage points to 75.4 percent.<\/p>\n<p>The unemployment rate decreased 0.5 percentage points on the quarter to 4.3 percent. The expected rate was 4.4 percent.<\/p>\n<p>Vodafone jumped 5.3 percent in London. The telecoms giant raised its forecast for this year&#8217;s free cash flow after reporting strong half-yearly performance.<\/p>\n<p>Premier Foods slumped 4 percent after the food manufacturer reported a fall in pretax profit in the first half of fiscal 2022.<\/p>\n<p>Diageo rallied 2.3 percent. The beverage company said that it expects to grow its organic operating profit by 6-9 percent for fiscal 2023 to fiscal 2025.<\/p>\n<p>Bouygues SA declined almost 2 percent in Paris. The telecommunications, media, and construction company reiterated its outlook after reporting a surge in its nine-month net profit.<\/p>\n<p>Dutch tech investor Prosus NV climbed 2.5 percent after it forecast higher profit for the first half of 2022.<\/p>\n<p>Nordex Group shares advanced 2 percent. The German company said it has received an order from Enerjisa \u00dcretim -independent power plant operator in Turkey &#8211; to supply and install twelve N163\/5.X turbines for the 68.4 MW Erciyes wind farm. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Mostly Higher After Biden-Xi Meeting<\/a><br \/>\n<br \/>2021-11-16 09:56:51<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks were broadly higher on Tuesday after a key virtual summit between U.S. President Joe Biden and Chinese leader Xi Jinping saw both sides signaling a stabilization in the&#8230;<\/p>\n","protected":false},"author":2,"featured_media":16123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-16122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/16122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=16122"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/16122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/16123"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=16122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=16122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=16122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}