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European stocks eked out modest gains on Monday as investors awaited key regional data and Federal Reserve’s policy decision.<\/p>\n
German inflation data due out later in the day may influence trading sentiment, heading into the release of the euro zone inflation data on Tuesday.<\/p>\n
Earlier today, preliminary data showed inflation rose in four important German states in April.<\/p>\n
The euro area economic sentiment index is awaited later in the day while the Fed’s policy Committee is overwhelmingly expected to keep the federal-funds rate unchanged on Wednesday. <\/p>\n
Meanwhile, data from property platform Zoopla suggested that U.K. house sales rose for the seventh consecutive month in April, driven by demand for smaller homes.<\/p>\n
House prices experienced a growth of 1.9 percent in February, indicating a \u00a35,318 increase over the past year.<\/p>\n
The pan European STOXX 600 was up 0.4 percent at 509.89 after rallying 1.1 percent on Friday to log its first weekly gain in four.<\/p>\n
The German DAX edged up 0.1 percent, France’s CAC 40 added 0.2 percent and the U.K.’s FTSE 100 was up 0.6 percent. <\/p>\n
In corporate news, Spain’s BBVA declined 1.4 percent despite beating estimates in the first quarter and raising its profit guidance for 2024.<\/p>\n
Mining giant Anglo American rose 1.3 percent in London.<\/p>\n
The company’s board has unanimously rejected a US$39Bn takeover bid from Australia-based BHP, saying the offer “significantly undervalues” the company and its future prospects and was “highly unattractive” for Anglo American’s shareholders.<\/p>\n
Oxford Biomedica shares jumped 6.4 percent. The cell and gene therapy contract development and manufacturing organization reported stability in its core business<\/span> and reiterated its near-term and medium-term financial guidance.<\/p>\n Drug major AstraZeneca added 1.3 percent after announcing progress with two breast cancer treatments.<\/p>\n Vivendi shares fell about 1 percent in Paris. The mass-media holding company reported a surge in revenue for the first quarter, supported by the consolidation of Lagardere as well as revenue growth at Canal+ Group and Havas.<\/p>\n Atos SE surged almost 16 percent. French Finance Minister Bruno Le Maire on Sunday said he had moved to acquire the “sovereign activities” of the debt-laden tech giant Atos and prevent foreign ownership of them.<\/p>\n Deutsche Bank shares slumped 6.1 percent. The German lender has provided updates on the ongoing litigation concerning its acquisition of Postbank, revealing that a legal provision will affect its second-quarter and full-year profitability as well as capital ratios.<\/p>\n The total estimated amount of all claims, inclusive of accumulated interest, stands at about 1.3 billion euros. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n