LAST UPDATE: 12:45
European stocks are looking for direction earlier this week after the new high of the Stoxx 600 on Friday, with investors weighing recent data on rising inflation in the Broadband, US and China with strong corporate results announced this the period.
Global market tone in recent weeks has been boosted by corporate earnings announcements along with data on inflation and the labor market from major economies, which will have an impact on the course of central bank monetary policy.
The European markets start with mixed signs per week, with the pan-European index Stoxx 600 to move with small fluctuations around 487 units. The basic resources sector loses 1%, while travel and leisure shares add 1.2%.
On the individual dashboard, the German DAX strengthened by 0.16% to 16,120 points, the French CAC 40 gains 0.3% to 7,100 points and the British FTSE 100 records marginal losses at 7,340 points.
In the periphery, the Italian FTSE MIB adds 0.27% to 27,800 points and the Spanish IBEX 35 loses 0.5% around 9,080 points.
In the individual shares Philips is down more than 9% after the Dutch medical equipment company announced on Sunday that it is in talks with US regulators following a recent inspection at one of its facilities.
At the top of the Stoxx 600 is the Czech software company Avast with a rise of 6.6%.
In corporate news Royal Dutch Shell announced its plans to simplify its shareholder structure, ending the current double-share class, and will move its tax headquarters to the United Kingdom. As part of the process, Shell will change its name to Shell PLC, as it will no longer qualify for the use of the Royal name.
Heineken NV has announced that it has agreed to buy Distell Group Holdings for € 2.2 billion as part of a plan to set up new businesses in South Africa. The Dutch brewery also said it acquired a 25% stake in Heineken South Africa from Namibia Breweries for € 1.5 billion, as well as a 50.1% stake in Ohlthaver & List Group of Companies in NBL Investment Holdings.
In addition, Ahold Delhaize announces it will seek to increase sales by € 10 billion by 2025, and will launch a € 1 billion own share purchase program at the beginning of the year.
Η Banco Bilbao Vizcaya Argentaria has decided to launch a takeover bid for Turkish Garanti BankasOr, for 2.25 billion euros. The Spanish bank stressed that it will offer 12.20 Turkish pounds for each share, in order to acquire 50.15% of Garanti.
Over the weekend, Airbus announced that it was reducing its forecast for 20-year demand for commercial aircraft by 0.5% compared to pre-pandemic forecasts, while raising its outlook for cargo carriers.
In macro of the day, Eurozone trade surplus fell more than expected in September, as the increase in imports continued to exceed that of exports, according to data from the European Union statistical office.
The eurozone trade surplus of goods stood at 7.3 billion euros in September, down sharply from the 24.1 billion euros recorded in the corresponding month last year. Estimates spoke of a trade surplus of 8.9 billion euros.
Meanwhile, Asian stock markets are moving with mixed signs on Monday as investors react to financial data from China and Japan.
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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.
