LONDON – European stocks rose on Monday, with markets following positive sentiment in Asia and the United States
The pan-European Stoxx 600 index was 0.4% higher in the morning trade, with most sectors in positive territory, apart from telecommunications, media and food and beverages.
European market sentiment was fueled by positive market action elsewhere, although the benefits and evolution of coronavirus remain focused. News of the most contagious British and South African variants of the coronavirus is expected to continue to spread throughout the United States. On Friday, Virginia health officials reported the first case of the state of the strain first identified in South Africa.
On Sunday, South Africa halted distribution of the AstraZeneca vaccine after a new study found it offered “minimal protection” against mild diseases caused by the variant first discovered there. Shares of AstraZeneca were flat on Monday.
In the United States, hopes of an agreement on a stimulus plan have also risen after the Senate and House passed a budget resolution Friday, beginning the reconciliation process that would allow President Joe Biden’s rescue package, d ‘$ 1.9 trillion, passed through the Democratic Senate. with simple majority.
No major European profits are to be earned on Monday. As for the data, it is due to the latest German industrial production figures.
Shares of Dialog Semiconductor rose 17% on Monday after Renesas Electronics Corp said it had agreed to buy the Frankfurt-listed chip designer for 4.9 billion euros ($ 5.908 billion) in cash.
Meanwhile, shares of water and waste management company Veolia fell 1.2% on Monday after a French court blocked any hostile takeover of its smaller rival Suez, whose shares were 1.45% lower in early businesses.
-CBCpa Stevens of CNBC contributed to this market report.
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