European shares rise on prospect of further global stimulus
On Monday, European stocks headed north, making their way to the third consecutive high, thus extending revenues after a stronger-than-expected American jobs report as well as investors hoping for more monetary easing by global major banks.
The Stoxx Europe 600 gained 0.5%, trading at 329.02 as all but the gas and oil sector went up. Industrial, mining as well as technology stocks appeared to be among the strongest advancers. Thyssenkrupp AG was the best performer with its shares rising 5.5%. The given German industrial conglomerate company is currently in talks with Indian Tata Steel Ltd. regarding a probable joint built around Tata’s European steel business.
ThyssenKrupp’s move really helped to propel German DAX 30 index up by approximately 1%, hitting 9,736.43.
On Friday, the Stoxx 600 soared 1.6%, rising after the US Labor Department told that up to 287,000 new jobs arose in June, thus outstripping hopes for job growth of 170 000 forecast by financial experts surveyed by MarketWatch.