Modupe Gbadeyanka
By Investors Hub
European stocks are seeing modest strength amid cautious trading ahead of the U.S. midterm elections on Tuesday and the Federal Reserve?s monetary policy announcement on Thursday.
The dollar held steady after White House economic adviser Larry Kudlow downplayed the potential for a quick trade deal between the U.S. and China.
Tuesday’s midterm elections will give Democrats a chance to retake the House and more effectively oppose President Donald Trump’s agenda.
Meanwhile, the Federal Reserve is widely expected to leave interest rates unchanged on Thursday, although the accompanying statement may provide clues about the anticipated rate hike next month.
While the U.K.?s FTSE 100 Index has risen by 0.3 percent, the French CAC 40 Index and the German DAX Index are both up by 0.2 percent.
Swiss drug giant Novartis has risen after issuing a Research & Development update, highlighting its development pipeline including potential blockbusters and advanced therapy platforms.
British software product group Micro Focus International has also advanced. The company said that trading for the twelve months ended October 31st has continued in line with the Board’s expectations with an improved revenue trajectory in the second half of the year.
Societe Generale shares have also moved slightly higher after the French bank entered into an agreement to sell Euro Bank, its retail banking subsidiary in Poland, to Bank Millennium.
On other hand, STMicroelectronics has declined after the semiconductor company launched a share buy-back program of up to $750 million to be executed within a 3-year period.
