European Stocks Edge Higher Ahead of Trump’s Inauguration
European stocks ticked higher on Monday, after posting four straight weeks of gains, as investors brace for possible policy announcements following Donald Trump’s inauguration later in the day.
The Stoxx Europe 600 Index was up 0.1% as of 09:07 a.m. in Paris to trade just below its September record high. Earlier, Asian shares climbed after a conversation between Donald Trump and Xi Jinping raised hopes for easing US-China tensions. Wall Street was closed for a holiday.
Banking shares led gains while utilities, energy and telecoms lagged. Shares in Telefónica dropped 2% after the board named Marc Murtra executive chairman as part of a shakeup led by the carrier’s top investors, which include the Spanish government.
Source: Bloomberg