logo
  

European Shares Edge Higher In Lackluster Trade

stockmarkets jan22 23jan23 lt

European stocks were broadly higher on Monday as dovish Fed remarks helped offset investor concerns of a global economic slowdown.

On a light day on the economic front, investors await Euro area consumer confidence survey results and a speech by ECB President Christine Lagarde at an event for directional cues.

The pan-European STOXX 600 was up 0.2 percent at 453.13 after gaining 0.4 percent on Friday.

The German DAX rose 0.2 percent and the U.K.'s FTSE 100 added 0.3 percent while France's CAC 40 was little changed, giving up earlier gains.

Agricultural machinery company CNH Industrial NV edged down slightly as union workers ratified a new contract with the company covering equipment factories in Mount Pleasant and in Burlington, Iowa.

Finnish critical networks and communications company Nokia Corp advanced 1.6 percent after it signed a new cross-license 5G patent agreement with Samsung Electronics.

Dignity Plc shares soared 8.5 percent. The British funeral service provider said it would be acquired by a consortium comprising investment firms SPWOne V Ltd, Castelnau Group (CGL.L) and Phoenix Asset Management Partners.

Infrastructure group Balfour Beatty gained 1 percent after it secured a 1.2 billion pounds contract from National Highways to deliver the 'Roads North of the Thames' package of works for the proposed Lower Thames Crossing.

Public transport provider National Express Group jumped 5.5 percent. The company said that its unit National Express Rail GmbH has won a 1 billion euros worth contract for rail operations in Germany.

Saga rallied 2.5 percent. The over-50's travel operator said it is seeking buyers for its in-house insurance underwriting business.

Aerospace major Airbus SE was down about 1 percent in Paris. The company is planning to spin off its Zephyr, a series of solar powered high-altitude surveillance and communications drone program, with the intention of creating a standalone telecoms and earth observation business that will start commercial operations by the end of next year, Financial Times reported.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design. Generative artificial intelligence or AI technologies, including the highly popular ChatGPT, could expose around 300 million full-time jobs around the world to automation, a report by Goldman Sachs predicts, deepening the rising fears about job security. According to a new research report by GS economists, "The Potentially Large Effects of Artificial Intelligence on Economic Growth",.. UBS Group AG has called back its former Chief Executive Officer Sergio Ermotti to lead the Swiss banking giant amid the new challenges and priorities it faces following its planned acquisition of troubled domestic rival Credit Suisse Group AG. Following the news, UBS shares were gaining more than 2 percent in Swiss trading as well as in pre-market activity on the NYSE.
Follow RTT