European shares rise as regional business activity grows at fastest pace in seven months.
European shares rose on Monday as data showed euro zone business activity grew at its fastest pace in seven months in March, lifting sentiment, while investors awaited more clarity on U.S. tariffs. The pan-European STOXX 600 was 0.4% higher by 0908 GMT as data showed Germany’s manufacturing production increased for the first time in almost two years.
In a separate survey, France’s flash purchasing managers index (PMI) indicated business activity contracted for a seventh consecutive month in March, although less than economists had forecast. The STOXX 600 index climbed last week after two consecutive weekly losses as Germany gave the final green light to a massive surge in borrowing to spur growth in the region’s largest economy.
Investors are awaiting details on Trump’s promise to slap reciprocal levies on U.S. trading partners on April 2 as his changing tariff threats have left nations and businesses uncertain of what to expect next. Among stocks, Bayer slid 6.6% after the seeds and pesticides maker was ordered by a U.S. jury to pay about $2.1 billion to a plaintiff who claimed the company’s Roundup weed killer caused his cancer.
RWE shares gained 2.8% as activist investor Elliott disclosed a stake in Germany’s biggest utility and urged the firm to increase its 1.5 billion euro ($1.6 billion) share buyback programme.
Source: Globalbankingandfinance
