Posted By Uma Rajagopal
Posted on November 11, 2024
(Reuters) – European shares opened higher on Monday with most sectors rising, kicking off a week packed with global economic data including inflation readings in Germany and the United States.
The pan-European STOXX 600 added 0.9% as of 0811 GMT, with industrials among the top gainers, up 1.2%.
Defence companies such as Sweden’s SAAB, Italy’s Leonardo and UK’s Rolls-Royce rose between 2.1% and 3.7%.
The European benchmark logged its third straight weekly loss on Friday as investors assessed the likelihood of tariffs after Donald Trump recaptured the U.S. presidency.
Underwhelming Chinese measures to revive its ailing economy last week also added to the losses.
Later this week, inflation readings across Europe, U.S. and a preliminary reading of euro zone third quarter GDP would remain in focus.
Among key stocks, German automotive and industrial supplier Continental advanced 7.6% after posting third-quarter core profit above expectations.
Aquis Exchange more than doubled in value after Swiss stock exchange operator SIX Group said it has reached an agreement to acquire the London-based company in a cash offer.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Mrigank Dhaniwala)
