This post was originally published on this site
People walk past a sign encouraging social distance in a shopping street in Solihull, central England on September 14, 2020.
oli scarff/Agence France-Presse/Getty Images
European stocks rose on Monday, as foreign investors went shopping for bargains in a flurry of activity.
Down 3.6% last week in its worst performance since early June, the Stoxx Europe 600 SXXP, +1.73% climbed 1.5%.
The German DAX DAX, +2.45%, French CAC 40 PX1, +1.77% and U.K. FTSE 100 UKX, +1.57% all advanced.
Futures on the Dow Jones Industrial Average YM00, +0.98% rose 229 points. Politics were in the limelight after a report Donald Trump paid $750 in federal income taxes in each of his first two years as president, a day after he nominated Amy Coney Barrett to the U.S. Supreme Court. In Europe, the ninth round of talks between the U.K. and the European Union are due to kick off Tuesday.
HSBC Holdings HSBA, +9.95% 5, +9.92% jumped 11% after China’s Ping An Insurance 2318, -0.12% nudged higher its stake to 8% from 7.95%. Last week, HSBC shares fell to their lowest since 1995 in the wake of a report on alleged money laundering activities at leading banks.
Commerzbank CBK, +4.64% rose 4% after saying Deutsche Bank executive Manfred Knot will become its next chief executive. Knof headed Deutsche Bank’s private banking arm in Germany, and also has served as chief executive at Allianz Deutschland.
ArcelorMittal MT, +8.36% rose 5% after reaching a deal to sell its U.S. arm to Cleveland-Cliffs CLF, +2.97% in a deal worth $3.3 billion including assumed liabilities.
William Hill WMH, -12.68% fell 12% to 274 pence, after rocketing 43% on Friday when it disclosed Caesars Entertainment and Apollo each were talking about placing separate bids. Caesars Entertainment CZR, +7.94% on Monday said it may offer 272 pence in cash for each share, valuing the company at £2.9 billion. Caesars said the deal, if it comes off, would better serve its customers in the fast growing U.S. sports betting and online market.
Diageo DGE, +5.45% DEO, +0.46% jumped 6% after the alcoholic beverages giant said its outlook for the fiscal year has improved, driven in large part by its U.S. business, due to “resilient” consumer demand and the spirits category continuing to gain share within the total beverage alcohol market.
