European Shares Edge Up On US-China Trade Deal Optimism


European stocks were broadly higher on Monday as investors looked ahead to the signing of a 'phase one' trade deal between the United States and China this week.

The looming U.S. corporate earnings season also remained on investors' radar, with the big banks scheduled to report results on Tuesday.


The pan European Stoxx 600 was marginally higher at 419.30 after declining around 0.1 percent on Friday.


The German DAX held steady, while France's CAC 40 index was up 0.2 percent and the U.K.'s FTSE was gaining half a percent.


ThyssenKrupp shares rose over 2 percent. According to a report published in Financial Times newspaper, the company has stepped up its efforts to sell its ailing factory-building business.


Wirecard rallied 2.2 percent. The provider of electronic payment and risk management applications announced that Wulf Matthias has resigned as Chairman of the Supervisory board for personal reasons.


Lufthansa dropped 1.4 percent after cancelling all flights to and from Tehran until January 20.

CropEnergies jumped 3 percent after its operating profit for the first nine months of the financial year 2019/20 more than tripled.


British software maker Avast rallied 2.4 percent after a JP Morgan upgrade.


Hikma Pharmaceuticals advanced 1.8 percent. The pharmaceutical company has reached an exclusive licensing and distribution agreement with Chiesi Farmaceutici, which provides Hikma with exclusive rights to commercialize 11 of Chiesi's products in Egypt.


Utility Pennon Group soared 8.5 percent on a report that private equity firm KKR had made a bid for its waste management unit.


Real estate services provider Savills jumped 4.6 percent. The company said it sees its annual underlying results to be at the upper end of its expectations. Taylor Wimpey shares rallied 2.7 percent.


Telecommunications testing company Spirent Communications jumped nearly 16 percent as it increased its full-year profit guidance after a strong finish to 2019.


The British pound edged lower ahead of U.K. monthly GDP estimate, industrial and construction output and external trade figures, due out later in the day.




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