LONDON – European stocks rose mostly Monday morning, reflecting trade in world markets.
The pan-European Stoxx 600 added 0.14% in the first deals, with travel and leisure stocks rising 0.7% to lead gains while the food and beverage sector fell 0.4 %
The positive start of European markets continues Monday with cautiously optimistic trade in the Asia-Pacific markets, and investors watch Alibaba’s shares in Hong Kong following a new development between the affiliated group Ant Group and the founder of billionaire Jack Ma.
Shares of Alibaba, listed on Hong Kong, fell 1.7% on Monday after Ant Group said in a tweet that a recent Reuters report that the firm was looking for ways out of Jack Ma was “false and unfounded. “.
U.S. stock index futures mixed Monday in the early hours of the morning, after the S&P 500 and Dow Jones Industrial Average closed record highs on Friday.
The earnings season kicked off last week when major U.S. banks reported quarterly results and a number of companies will have to report this week. Ten Dow components will be unveiled, along with 72 S&P 500 companies. Coca-Cola, IBM and United Airlines are among the companies that will report their profits on Monday.
Current account and production data for the euro area in February have expired; no further publication of data or significant gains is expected.
In terms of individual stock price movement, online gambling operator Kindred Group rose 5% in early business to lead the Stoxx 600.
At the end of the index, CNH Industrial of Italy fell 4.5% after ending discussions over the sale of its Iveco truck manufacturing business to Chinese company FAW.
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– CNBC’s Eustance Huang and Pippa Stevens helped report this story.