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European Stocks Close Broadly Higher

By Investors Hub

European stocks are broadly higher on Monday despite heightened tensions between the United States and Turkey after gunshots were fired early Monday at the U.S embassy in Ankara.

China and the United States will hold lower-level trade talks this week, just before new U.S. tariffs on $16 billion of Chinese goods take effect.

Traders are also looking ahead to the release of the FOMC meeting minutes this week and a meeting of central bankers at the Kansas City Fed’s Jackson Hole symposium for clues on next month’s U.S. interest rate decision.

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While the German DAX Index has spiked by 1.1 percent, the French CAC 40 Index is up by 0.7 percent and the U.K.?s FTSE 100 Index is up by 0.4 percent.

Anglo American, Antofagasta and Glencore have climbed on hopes that the U.S.-China trade talks this week might help resolve an escalating trade war.

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Swiss drug major Roche Group has edged higher after its Alecensa (alectinib) received Chinese marketing approval to treat ALK-positive lung cancer.

On the other hand, Mulberry shares have slumped in London after the company warned its half-year profits ?will be materially reduced? because of flagging U.K. sales, particularly in House of Fraser.

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Shares of Integrated security group G4S has also moved lower following reports that the U..K Ministry of Justice has taken immediate control of Birmingham Prison from its contractor G4S.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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