LAST UPDATE: 12.21
The main European stock markets are moving positively on Monday with investors watching the developments from the high-level meetings.
In particular, the pan-European Stoxx 600 records gains gains 0.67%. At the same time, the other pan-European Stoxx 50 adds 0.74%.
On the rest of the board, the German DAX gains 0.88%, the British FTSE 100 strengthened by 0.56% and the French CAC-40 is moving up by 1.01%.
In the periphery, the Spanish IBEX-35 the Italian gains 1.36% FTSE MIB adds 1.26%.
The positive climate in Europe comes after mixed image in asia, with investors valuing financial data from China. In particular, o manufacturing sector in China recovered in October, and reached its highest level since June, thanks to improved domestic demand. The Caixin index rose 50.6 points from 50 points in September, indicating that manufacturing activity recovered last month, according to data from Caixin Media and IHS Markit. The results show a different direction from the official index, which stood at 49.2 points in October and reached a new low after the outbreak of the pandemic in February 2020.
Back in Europe, investors are keeping a close eye on developments at the COP26 climate summit in Glasgow, which began on Sunday. The summit is widely seen as an opportunity for world leaders to take decisive action to reduce carbon emissions, but there is little hope for ambitious goals.
In business news, the Ryanair announced profits for the first time since the outbreak of the pandemic, but warned that it would record losses on an annual basis, up to 200 million euros, as it will be forced to put discounted tickets to fill its planes in the winter. The Irish airline announced losses after taxes of 48 million Euros in the first half of September.
In macro, The growth of British factories slowed down and costs rose in October in a bid to tackle supply bottlenecks, underscoring the Bank of England dilemma as it looks at raising interest rates this week.
IHS Markit PMI rose to 57.8 points from 57.1 points in September.
However, the output-linked index fell to 51.3 points, the lowest level in eight months, from 52.7 points in September.
Factory charges rose the most in 20 years of research as they paid more for a wide range of inputs, Markit said.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
