EUROPE MARKETS: European Stocks Climb Ahead Of Key Policy, Data Week
30 November 2015 - 8:45PM
Dow Jones News
By Sara Sjolin, MarketWatch
Miners slump as iron ore prices fall
European stock markets moved mainly higher on Monday as
investors geared up for a busy week of economic events, including
inflation data and the European Central Bank meeting.
The Stoxx Europe 600 index rose 0.3% to 384.87, extending its
monthly advance to 2.5%. That would mark a second straight month of
gains for the pan-European index, after rallying 8% in October when
global central banks hinted monetary policy would stay
accommodative.
In that vein, the ECB meeting on Thursday this week remains a
key event for financial markets after ECB President Mario Draghi at
an October news conference emphasized the central bank's
willingness to do more to boost growth and inflation. Economists
widely expect the ECB to extend the horizon of its current
quantitative-easing program, which is currently slated to end in
September 2016. Some economists further forecast a cut to the
deposit rate.
Inflation data are also looming this week, which could put
additional pressure on the central back to launch further easing.
Consumer-price data for Germany are due at 1 p.m. London time, or 8
a.m. Eastern Time, on Monday, while the eurozone number comes out
on Wednesday.
Index moves: Germany's DAX 30 index was up 0.7% to 11,376.71
ahead of the inflation release, propped up by a 3.1% rise for
Infineon Technologies AG (IFX.XE). The chip maker is on track for a
26% monthly gain, which would be the best monthly rise since March
2010.
France's CAC 40 index added 0.5% to 4,953.58, while the U.K.'s
FTSE 100 index dropped 0.2% to 6,365.44
(http://www.marketwatch.com/story/ftse-100-lower-as-iron-ore-slump-puts-pressure-on-miners-2015-11-30).
The British benchmark was weighed by its miners as iron ore prices
slumped amid a continued commodities rout. Shares of BHP Billiton
PLC (BLT.LN) (BHP.AU) (BHP.AU) fell 4%, Anglo American PLC (AAL.LN)
lost 2.2% and Glencore PLC (GLEN.LN) (GLEN.LN) gave up 1.7%.
Other movers: Shares of Aberdeen Asset Management PLC (ADN.LN)
shaved off 3.8% after the company reported a fall in full-year
assets under management
(http://www.marketwatch.com/story/aberdeen-asset-profit-up-despite-tough-conditions-2015-11-30).
Shares of Delta Lloyd NV (DL.AE) slumped 6.2% after the Dutch
insurer said it plans to raise 1 billion euros
(http://www.marketwatch.com/story/delta-lloyd-plans-1-billion-rights-issue-2015-11-30)
($1.06 billion) through a rights issue to strengthen its solvency
position.
On a more upbeat note, Deutsche Lufthansa AG (LHA.XE) advanced
2.2% after the airline over the weekend reached a pay deal
(http://www.marketwatch.com/story/lufthansa-signs-pay-deal-with-33000-workers-2015-11-28)
with 33,000 workers.
Anheuser-Busch InBev NV (ABI.BT) (ABI.BT) added 0.4% after news
the brewer plans to sell two of SABMiller PLC's
(http://www.marketwatch.com/story/ab-inbev-plans-to-sell-grolsch-peroni-brands-2015-11-30)(SAB.JO)
(SAB.JO) best-known beer brands, Grolsch and Peroni, as the company
seeks to ease European regulatory concerns over its pending
acquisition of its rival.
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(END) Dow Jones Newswires
November 30, 2015 04:30 ET (09:30 GMT)
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