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.

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