European markets edge higher with Fed meeting, Trump-Xi summit in focus
European stocks were slightly higher on Monday as traders look ahead to the U.S. Federal Reserve’s meeting, more earnings and signs of a rapprochement between Washington and Beijing.
The pan-European Stoxx 600 was up 0.1% at 3:15 p.m. in London
The U.K.’s FTSE 100 index was little changed for the session, while France’s CAC 40 was over 0.1% higher, as Germany’s DAX gained 0.1% and Italy’s FTSE MIB added 1%.
Regional markets had ended last week higher as investors reacted to the latest U.S. inflation print, the only federal data to be released during the ongoing government shutdown, and a flurry of corporate earnings reports.
Looking at individual stocks, Swiss pharmaceutical giant Novartis on Monday fell 1% after the firm announced it was buying Avidit Biosciences in a deal worth $12 billion.
Copenhagen-listed bank Sydbank was among the biggest gainers, advancing 5.6% after unveiling plans to merge with Danish lenders Arbejdernes Landsbank and Vestjysk Bank, with the new entity named AL Sydbank becoming one of Denmark’s five largest banks.
Barclays meanwhile gained 1.9% after Saudi Arabia said it would imminently recognize the U.K. lender’s regional headquarters in the country, with the bank having reportedly received a provisional capital market authority licence to conduct investment banking activities there.
Source: CNBC
