European Shares Close Higher in Bullish Trading
By Investors Hub
European stocks have experienced choppy trading on Monday but are currently mostly higher. While the UK’s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index is up by 0.2 percent and the German DAX Index is up by 0.1 percent.
Technology stocks are recovering from last week’s selloff, with AMS and STMicroelectronics posting significant gains.
Italian telecom giant Telecom Italia has also jumped. The company’s board appointed Luigi Gubitosi as its new CEO and General Manager by a majority vote.
Novo Nordisk shares have also advanced after JP Morgan upgraded its rating on the company?s stock to Overweight.
Miners Antofagasta, Anglo American and Glencore have also risen, tracking an uptick in copper prices.
Meanwhile, French automaker Renault has fallen sharply on a report that Nissan chairman Carlos Ghosn is facing arrest for alleged financial trading violations.
In economic releases, Eurozone’s current account surplus decreased in September, figures from the European Central Bank showed.
The current account surplus fell to 17 billion euros in September from 24 billion euros in August. In the same month last year, the surplus was 40 billion euros.
Separately, figures from property market data website Rightmove showed U.K. house prices declined at the fastest monthly pace in seven years in November. Average asking prices tumbled 1.7 percent month-on-month to 302,023 pounds in November.