European Shares See Modest Strength as Euro Weakens
By Investors Hub
European stocks are seeing modest strength on Monday as the euro weakened and commodity prices surged after another solid assessment of economic growth in China.
North Korea continued its harsh anti-US rhetoric and Catalonia’s President Carles Puigdemont defended the region’s claim to independence, helping keep underlying sentiment somewhat cautious.
In economic news, the euro area trade surplus dropped to 16.1 billion euros in August from 23.2 billion in July due to a surge in imports from countries outside the eurozone, data from Eurostat showed.
The UK’s FTSE 100 Index, the French CAC 40 Index and the German DAX Index are also rising by 0.2 percent.
French retailer Carrefour Group has shown a notable move to the upside after appointing Matthieu Malige as its new CFO.
German automaker Daimler has also rise after announcing a new structure for its Mercedes-Benz car division and its truck and bus businesses.
Meanwhile, Husqvarna AB shares have fallen after the Swedish manufacturer of products for construction and stone industries warned on sales in its consumer brands division as it scaled back business with a large U.S. retail customer.
Airbus shares have also declined after CEO Tom Enders told Handelsblatt that he would be prepared to step down if he was “no longer part of the solution,” as the aircraft maker deals with ongoing corruption probes.
ConvaTec shares have plunged after the British medical technology company lowered its full-year organic revenue growth target, citing supply issues in the third quarter.