Dipo Olowookere
By Investors Hub
European stocks were mostly higher on Monday as investors bet on strong economic growth and solid corporate earnings.
Markets shrugged off weak factory orders data from Germany as Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats embark on new talks to form a new government.
German factory orders decreased 0.4 percent month-on-month, reversing a revised 0.7 percent rise in October, data from Destatis revealed. Orders were forecast to drop 0.2 percent.
Separately, U.K. house price growth slowed sharply in December and prices declined from the previous month, preliminary data from the Lloyds bank subsidiary Halifax and IHS Markit showed.
The house price index rose 2.7 percent year-on-year following 3.9 percent increase in the previous month. The latest increase was the smallest since August, when prices grew 2.6 percent.
The dollar was trading higher against rivals ahead of consumer confidence and retail sales numbers from the euro area due later in the day.
The pan-European Stoxx Europe 600 index was up 0.3 percent at 398.43 in late opening deals after climbing 0.9 percent on Friday.
The German DAX and France’s CAC 40 index were moving up around 0.4 percent each while the U.K.’s FTSE was marginally lower ahead of a possible cabinet reshuffle this week.
Dialog Semiconductor shares jumped 3 percent. The company reported its fourth-quarter preliminary revenue of approximately $463 million, slightly above the high-end of the guidance range announced on November 7.
Nestle slid half a percent amid reports that Hershey and Ferrero have submitted final bids to acquire its U.S. candy business.
Software giant Micro Focus slumped 11 percent in London after the company warned the integration of HPE software could delay the division’s return to revenue growth.
Mothercare shares fell as much as 26 percent after the baby goods retailer warned of substantially lower annual profits.
