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European shares edged higher on Monday, though overall trading activity remained muted due to a U.S. market holiday. <\/p>\n
Germany’s trade balance registered a deficit in May on an unexpected fall in exports, data from Destatis showed earlier today. <\/p>\n
Exports dropped 0.5 percent on a monthly basis in May, reversing April’s 4.4 increase. Shipments were forecast to grow 0.9 percent.<\/p>\n
Eurozone producer price data is awaited later in the session. <\/p>\n
The pan European Stoxx 600 climbed 0.8 percent to 410.21 after closing flat with a negative bias on Friday. <\/p>\n
The German DAX inched up 0.2 percent, France’s CAC 40 index added 0.7 percent and the U.K.’s FTSE 100 was up 0.9 percent. <\/p>\n
TotalEnergies, BP Plc and Shell jumped 2-3 percent as crude prices reversed losses amid concerns of tight supply and lower OPEC output.<\/p>\n
Grafton Group plunged 6.7 percent. The building materials supplier announced that Gavin Slark would step down as Chief Executive Officer later this year after eleven years in the role.<\/p>\n
Chipmaker AMS Osram AG plummeted 7.5 percent after JP Morgan downgraded the stock to “neutral” from “overweight.”<\/p>\n
Budget airline Ryanair Holdings edged down slightly and Wizz Air fell 2.5 percent after unveiling their passenger traffic figures for the month of June. <\/p>\n
Airbus was little changed despite confirming the signature of orders with Air China, China Eastern, China Southern, and Shenzhen Airlines for a total of 292 A320 Family aircraft. <\/p>\n
Spirax-Sarco Engineering jumped nearly 3 percent. The valve maker said it has entered into exclusive negotiations with a view to acquire the Vulcanic Group of Companies from Qualium for consideration of 261.7 million euros on a cash and debt free basis. <\/p>\n
Tesco gained around 1 percent after commencing a shar buyback program. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n