European stocks rise as investors wait for BoE’s decision
On Monday, European shares edged up with support from reveneus in German industrial conglomerate Siemens AG, with market participants waiting for the BoE’s first intrest rate drop since the global financila downtime.
The Stoxx Europe 600 soared 0.4%, trading at 336.96, with gas and oil, financial as well as industrial stocks advancing. On the contrary, telecom, healthcare as well as basic materials stocks were pushed lower.
The industrials group was bolstered by a 4.1% surge in stocks of Siemens when the company increased its fiscal 2016 forecast following decent growth at its energy operations. By the way, net revenue for the period ended June 30 overleapt expectations.
Siemen stocks demonstrated the best performance on Germans DAX 30, which soared 0.6%, trading at 10,229.29.
As earnings reports keep rolling in, market participants were eager to hear from the BoE as it’s going to issue its Super Thursday trio of announcements a bit later.