Finance
Stoxx 600 Hits Two-Week High; UniCredit, Commerzank Drop
Published by Uma Rajagopal
Posted on November 25, 2024
2 min readLast updated: January 28, 2026
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Published by Uma Rajagopal
Posted on November 25, 2024
2 min readLast updated: January 28, 2026
Add as preferred source on Google(Reuters) – Europe’s main stock index opened at a two-week high on Monday, boosted by U.S. President-elect Donald Trump’s Treasury Secretary nomination and upbeat comments by the European Central Bank’s chief economist on monetary policy easing.
(Reuters) – Europe’s main stock index opened at a two-week high on Monday, boosted by U.S. President-elect Donald Trump’s Treasury Secretary nomination and upbeat comments by the European Central Bank’s chief economist on monetary policy easing.
The pan-European STOXX 600 was up 0.5% as of 0810 GMT, led by basic resources and personal household goods shares.
Wall Street futures climbed, accompanied by a fall in U.S. Treasury yields, driven by Trump’s selection of fund manager Scott Bessent as Treasury secretary, who is expected to keep a leash on U.S. debt.
Further, ECB chief economist Phillip Lane said the central bank’s policy should not remain restrictive for too long, while also acknowledging inflation will take some more time to fall back to 2%.
Among individual stocks, Italy’s UniCredit dropped 2% after launching a surprise all-share offer worth 10 billion euros ($10.45 billion) for smaller domestic rival Banco BPM, which was up 5%.
Commerzank fell 6% as investors assessed the offer’s impact on the German lender’s likely buyout deal from UniCredit.
Anglo American rose 2% on the miner’s plans to sell its Australian steelmaking coal mines for up to $3.78 billion.
($1 = 0.9569 euros)
(Reporting by Joao Manuel Mauricio In Gdansk; Editing by Sonia Cheema)
The STOXX 600 is a stock market index that represents large, mid, and small-cap companies across 17 European countries. It serves as a benchmark for the performance of European equities.
Monetary policy refers to the actions taken by a central bank to manage the money supply and interest rates to achieve macroeconomic objectives such as controlling inflation, consumption, growth, and liquidity.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI).
A buyout deal occurs when an investor or a group of investors purchases a controlling interest in a company, often using a combination of debt and equity financing.
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