LAST UPDATE: 11.40
European stock markets open the week with positive signs on Monday, after the recession of last week’s climate of uncertainty, characterized by the escalation of tensions in the Middle East and the “landing” of expectations for interest rate cuts by major central banks internationally.
The pan-European Stoxx 600 up 0.27%, with all sectors except mining trading in positive territory. Shares in the retail sector led the gains, up 1.3%. The other pan-European indicator, Eurostoxx 50increases by 0.05%.
The German DAX registers a rise of 0.28%, with the French CAC 40 to decline marginally by 0.03%, while the British FTSE 100 registers an increase of 1.14%.
In the periphery, the Italian FTSE MIB records a drop of 1.17%, while the Spanish IBEX 35 moving upwards, by 0.78%.
European bank results will take center stage this week as investors get a clearer picture of whether higher interest rates continue to boost earnings or whether a rally in share prices has run out of steam .
BNP Paribas, Deutsche Bank, Barclays and Lloyds will announce results within the week.
Among the titles with the biggest “movements” of the day, the Galp Energia sees its stock rise 17% after the Portuguese company announced that the Mopane field off the coast of Namibia could “yield” at least 10 billion barrels of oil.
Alstom shares are gaining 4.9% after the French trainmaker agreed to sell its North American conventional rail signaling business to German rail systems maker Knorr-Bremse for about 630 million euros.
Shares in Sweden’s Embracer Group AB were earlier up as much as 18% in early trading in Stockholm. after announcing its plans to split into three listed companies.
The Swedish game development company that owns the rights to Tomb Raider and a range of Lord of the Rings-related products says, according to Bloomberg, that it is taking this step in order to “unlock” more value in the market.
