Comments
European shares rose on Monday as strong export data out of China and the reaching of a deal between the US and Mexico provided some relief to markets worried by the impact of US President Donald Trump's aggressive trade bargaining.
Helping the European auto sector were signs that Fiat Chrysler Automobiles NV and Renault SA were looking for ways to resuscitate their collapsed merger plan and secure the approval of Nissan Motor Co.
The pan-regional STOXX 600 index rose 0.3 per cent by 0713 GMT, with Britain's FTSE 100 up 0.43 per cent. However trading volumes were thin with markets in Germany, Switzerland, Austria and most Nordic countries closed for Whit Monday.
Shares of tariff-sensitive auto makers and their suppliers rose 0.596 per cent on the news of Trump's retreat on last month's shock threat of a 5 per cent import tariff on all Mexican goods in exchange for moves on immigration.
Fiat Chrysler jumped 3 per cent, while Renault's shares were up 1 per cent. Among other stocks, Thomas Cook's shares rose 20.21 per cent after a report that Hong Kong's Fosun Tourism was in talks to buy its tour operating business as the British group faces break-up after issuing three profit warnings in the past year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.