Buoyed by cooler than expected US inflation data, Europe’s main indices continued to gain momentum. The blue-chip Stoxx 50 added more than 1.7 per cent. while the cross-continent Stoxx 600 was up by 1.5 per cent.rose between 4 per cent and 6 per cent after Jefferies raised price targets on the stocks.rose 3.7 per cent after the French defence group said it had initiated talks to buy supplier Cobham Aerospace Communications for almost €1 billion.shares fell 4.
Ten of the 11 major S&P 500 sectors advanced, led by gains in consumer discretionary stocks that added 1.1 per cent in early trading.added 2 per cent after the Financial Times reported that chip designer Arm is in talks to bring the megacap firm in as an anchor investor in advance of its planned listing.shed 0.6 per cent as Bank of America downgraded the networking equipment maker’s rating.
Major banks will kick off the earnings season later this week, with JPMorgan Chase, Wells Fargo and Citigroup reporting results on Friday. The results from US banks are unlikely to provide clarity on areas of uncertainty, although there could be the first signs of a trough in net interest margin, Citigroup wrote in a note downgrading JPMorgan to neutral. – Additional reporting: Reuters, Bloomberg
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