EUROPE MARKETS: Europe Stocks Inch Into Positive Territory, But U.S., London Holidays Keep Volumes Low
30 May 2016 - 3:03PM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
PostNL surges after takeover discussions
European stock markets inched higher on Monday, though the
absence of U.S. and London markets, which are both closed for
holidays, kept volumes thin.
The Stoxx Europe 600 was barely positive at 349.75, after a 3.4%
gain last week, which was probably the benchmark's strongest weekly
performance since February 19, according to FactSet data.
U.S. financial markets will be closed for the Memorial Day
holiday on Monday, while London markets are closed for a bank
holiday, which is expected to keep volumes low in Europe.
Investors in Europe were getting the first chance to react to
Federal Reserve Chairwoman Janet Yellen who said the U.S. central
bank would "probably" raise interest rates in the "coming months,"
(http://www.marketwatch.com/story/feds-yellen-says-an-interest-rate-rise-is-probably-coming-in-months-2016-05-27)
in comments made while at Harvard University, where she accepted an
award.
Data in focus: French economic growth accelerated faster than
initially estimated
(conomic%20growth%20accelerated%20faster%20than%20initially%20estimated%20in%20the%20first%20quarter,%20helped%20by%20sharp%20rises%20in%20consumer%20spending%20and%20investm)
in the first quarter, helped by sharp rises in consumer spending
and investment.
Movers: Among the heavyweights, shares of Daimler AG (DAI.XE)
rose 1.7%. The European Union is expected to lay down record cartel
charges for Daimler and some of Europe's biggest truck makers, the
Financial Times reported
(http://www.cnbc.com/2016/05/29/financial-times-eu-set-to-impose-record-cartel-fine-on-truckmakers.html).
Auto makers were generally higher and with Fiat Chrysler
Automobiles NV (FCA.MI) up 1.6%.
PostNL NV (PNLYY) rose 3.9%, the biggest gainer for the Stoxx
600 after the Belgi9an mail, parcel and e-commerce corporation said
in a statement
(http://www.postnl.nl/en/about-postnl/press-news/press-releases/2016/may/bpost-and-postnl-end-negotiations.html)
that it had discussed a "possible combination" with Belgian mail
operator bpost SA (BPOST.BT) , but the talks did not lead to deal.
Shares of bpost fell 1.9% in early trading.
Indexes: Germany's DAX 30 index rose 0.3% to 10,322.09, while
the French CAC 40 index rose 0.1% and the FTSE MIB Italy index was
flat.
(END) Dow Jones Newswires
May 30, 2016 09:48 ET (13:48 GMT)
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