European Shares Edge Higher In Cautious Trade
(RTTNews) - European stocks were moving higher on Monday ahead of economic sentiment survey results from the euro area and flash inflation data from Germany due later in the day.
As the joint U.S.-Israeli war on Iran stretched into its second month, French central bank chief Francois Villeroy de Galhau said the European Central Bank is ready to act, but it is too early to discuss the timing of any rate hike.
Brent crude price traded about 2 percent higher above $115 per barrel in early European trade amid a lack of progress in bringing an end to the four-week-old Middle East conflict.
The pan European Stoxx 600 rose half a percent to 577.95 after falling 1 percent on Friday.
The German DAX edged up by 0.2 percent, France's CAC 40 added 0.4 percent and the U.K.'s FTSE 100 surged 0.8 percent.
Dutch automaker Stellantis was marginally higher after announcing the renewal and expansion of its long-standing partnership with Palantir Technologies.
GSK rose about 1 percent after its drug Exdensur received approval in China for the treatment of asthma.
Rio Tinto shares jumped 4 percent in London. The mining giant said operations at three of its four Pilbara iron ore port terminals have resumed after Tropical Cyclone Narelle passed over Western Australia's Pilbara region.
INWIT dropped 1.4 percent after Telecom Italia scrapped a plan to renew a mobile-phone agreement with the mobile towers group.
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