By Investors Hub
European stocks have rallied on Monday as the U.S. Senate approved a bill to overhaul the tax system and investors expressed optimism about progress in Britain’s Brexit talks.
While the U.K.’s FTSE 100 Index has risen by 0.5 percent, the French CAC 40 Index and the German DAX Index are up by 1.2 percent and 1.6 percent, respectively.
Automakers Volkswagen, BMW, Daimler, Peugeot and Renault have moved higher on hopes that large Republican-backed tax cuts will deliver a modest boost to the U.S. economy in the next two years.
Mining giant Rio Tinto has also advanced after appointing Simon Thompson as its new chairman.
Airbus shares have rallied on news the aerospace giant estimates that it can deliver more than 700 aircraft to customers in 2017.
Denmark’s insurer Tryg has also jumped after it agreed to buy unlisted competitor Alka Forsikring for $1.31 billion.
Meanwhile, Dialog Semiconductor shares have fallen after the German firm confirmed that it continues to supply Apple (AAPL) with customized power management integrated circuits across a range of platforms without material change to its ongoing business relationship.
