European Stock Markets Rally After US Stock Indixes Rebound
By Investors Hub
European stocks have rallied on Monday after major U.S. stock indexes rebounded in the last session on news that lawmakers managed to end a brief government shutdown.
Oil prices rebounded after six straight days of declines and German Chancellor Angela Merkel vowed to serve another full four-year term, helping buoy investor sentiment on a light day on the economic front.
While the German DAX Index has surged up by 1.8 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are up by 1.4 percent and 1.3 percent, respectively.
Akzo Nobel has moved notably higher amid reports that PGGM has joined forces with a consortium led by a private equity firm to buy its chemicals division.
Saga shares have also climbed on news the British tourism and insurance group for the over-50s has entered into a new quota share arrangement with NewRe and Hannover Re to cover 80 percent of the underwriting risk of motor policies of the Group’s in-house underwriter.
Automaker Renault has risen in Paris after a senior board member reportedly resigned from the company, days ahead of a meeting to consider the appointment of Chief Executive Carlos Ghosn successor.
Meanwhile, brewer Heineken NV has come under pressure after forecasting lower margin growth in 2018.