European stocks edged higher on Monday ahead of this week’s ECB meeting and the expected resumption of an important gas pipeline that is currently closed for maintenance.
The euro held at one-week high after several Fed officials said they didn’t favor a 100-bps rate hike.
At its July 21 meeting, the European Central bank is likely to hike its policy rates by 25 basis points and signal a 50-basis point increase for September.
Elsewhere, Italian Prime Minister Mario Draghi will address parliament on Wednesday after his resignation was rejected by the country’s president.
The pan European Stoxx 600 jumped 1.45 percent to 419.79 after climbing 1.8 percent on Friday.
The German DAX, France’s CAC 40 and the U.K.’s FTSE 100 were up between 1.3 percent and 1.4 percent.
Euromoney Institutional Investor jumped 9.4 percent after it agreed to be bought by a private equity consortium led by France’s Astorg Asset Management for £1.6bn.
GSK slumped 19 percent after the drug maker spun of its consumer health business in the biggest listing in Europe for more than a decade.
Finland’s Nordea Bank rallied 3.5 percent after its second-quarter profit beat estimates.
Food delivery company Deliveroo added 1.5 percent despite cutting its annual sales forecast.
Public relations and advertising giant WPP rose 1.2 percent after buying ecommerce agency Corebiz for an undisclosed amount.
European Shares Extend Gains As Investors Look To ECB Meeting
2022-07-18 09:05:36
