By Investors Hub
European stocks are rebounding from a two-month low as a continued increase in oil prices has pushed commodity-related stocks higher. Banks have also gained ground on expectations they will benefit from higher interest rates going forward.
While the French CAC 40 Index has jumped by 1 percent, the German DAX Index is up by 0.6 percent and the U.K.’s FTSE 100 Index is up by 0.3 percent.
Eurozone manufacturing activity expanded at the fastest pace in over six years in June and the region’s jobless rate held steady at an eight-year low of 9.3 percent in May, while a gauge of U.K. manufacturing expanded at the weakest pace in three months in June.
Swiss engineering firm ABB has advanced after the company agreed to acquire the mission-critical communication business of the KEYMILE Group in order to strengthen its communication networks portfolio.
Genoa-based Carige has jumped almost 7 percent ahead of a board meeting to discuss plans to raise capital and shed bad loans.
Plus500 shares have soared in London after the global leader in online trading platforms announced it expects a strong performance in the first half of this year.
ThyssenKrupp has also rallied after Handelsblatt reported the German industrial group is likely to make a decision by the end of September on a Tata Steel merger.
Adedapo Adesanya