{"id":43190,"date":"2024-01-22T09:37:51","date_gmt":"2024-01-22T09:37:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/01\/22\/european-shares-edge-higher-with-ecb-meeting-in-the-spotlight\/"},"modified":"2024-01-22T09:37:51","modified_gmt":"2024-01-22T09:37:51","slug":"european-shares-edge-higher-with-ecb-meeting-in-the-spotlight","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/01\/22\/european-shares-edge-higher-with-ecb-meeting-in-the-spotlight\/","title":{"rendered":"European Shares Edge Higher With ECB Meeting In The Spotlight"},"content":{"rendered":"
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European stocks were moving higher on Monday as investors looked ahead to the European Central Bank monetary policy decision on Thursday to ascertain the timing and pace of interest-rate cuts this year.<\/p>\n

Market analysts remain skeptical of the ECB’s inflation outlook and anticipate multiple cuts throughout the year.<\/p>\n

The pan European STOXX 600 rose 0.6 percent to 471.85 after declining 0.3 percent on Friday. <\/p>\n

The German DAX added half a percent, France’s CAC 40 climbed 0.6 percent and the U.K.’s FTSE 100 was up 0.2 percent.<\/p>\n

Technology stocks led the bounce, with ASML Holdings rallying 2.5 percent and Infineon Technologies adding 1.5 percent.<\/p>\n

Sandoz jumped almost 3 percent after the key player in generic and biosimilar medicines announced a deal to acquire the U.S. biosimilar ranibizumab CIMERLI from Coherus BioSciences, Inc. for an upfront cash purchase payment of $170 million. <\/p>\n

SDI Group shares slumped nearly 6 percent in London. The maker of scientific and technology<\/span> products said that its Chief Executive Officer, Mike Creedon, has stepped down with effect from January 19.<\/p>\n

Endeavour soared 6.6 percent. The gold miner said it expects production to increase by as much as 18 percent in 2024, thanks to several project start-ups due to commence in the second quarter.<\/p>\n

Bodycote rallied 3.7 percent. The provider of heat treatment and thermal processing services announced its decision to buy back shares of up to 60 million pounds.<\/p>\n

Credit Agricole S.A. shares rose about 1 percent. The French banking group said that it has acquired a 7 percent minority interest in Worldline S.A., a payment and transactional services provider. The financial terms of the deal were not disclosed.<\/p>\n

Gaming company Kindred soared 17 percent after confirming a takeover bid from La Francaise des Jeux. Shares of the latter were up4 percent. <\/p>\n<\/p>\n<\/div>\n