European shares were flat to slightly higher on Monday ahead of key Eurozone inflation data due out later in the day and the Fed and Bank of England policy meetings due this week.
The flash estimate showed that Eurozone inflation softened to 2.6 percent from 2.8 percent in January.
The pan European STOXX 600 was marginally higher at 505.13 after declining 0.3 percent on Friday.
The German DAX rose 0.3 percent, France’s CAC 40 was up marginally and the U.K.’s FTSE 100 inched up 0.2 percent.
Signify NV jumped 4 percent after Barclays upgraded its rating on the stock.
Swiss tech firm Logitech plunged 7 percent after announcing the departure of its CFO in May.
Julius Baer Group declined 1.1 percent after announcing its financial targets for the 2023-25 period.
Miners traded mostly lower, with Antofagasta falling nearly 2 percent.
British building materials group Marshalls plunged 6.5 percent after annual pretax profit and revenue fell amid challenging end-market conditions.
Electronics retailer Currys rallied 3.5 percent after raising its profit guidance.
British American Tobacco rose 1.3 percent. The company started a £1.6 billion ($2 billion) buyback program after selling part of its stake in India’s ITC.
British Land Company jumped 2.2 percent after it announced the formation of a new 50:50 joint venture with Royal London Asset Management Property to boost the delivery of 1 Triton Square into a best-in-class science and innovation building at Regent’s Place.
German reinsurer Hannover Re was marginally higher after it posted higher full-year net income and forecast improved results for FY24.
Business News
European Shares Cling To Modest Gains Ahead Of Inflation Data, Central Bank Meetings
2024-03-18 09:36:40
