European Shares Inch Higher Ahead Of US Inflation Data
(RTTNews) - European stocks traded higher on Monday as investors assessed the outlook for inflation and economic growth.
The dollar index held near a five-week high, and the benchmark U.S. 10-year treasury yield rose to a new six-week high, as investors awaited the release of U.S. consumer price data and retail sales figures this week for additional clues on the Federal Reserve's monetary policy trajectory.
The pan European STOXX 600 rose 0.4 percent to 459.52 after falling 1 percent on Friday.
The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up between 0.3 percent and 0.6 percent.
Swedish property company Castellum tumbled 3 percent after unveiling fund raising plans.
British construction materials distributor Brickability Group jumped 8.3 percent after saying its profit for the current year would exceed market expectations.
Lok'nStore Group shares fell nearly 4 percent. The self-storage company said its first-half same store revenue went up 10.3 percent.
Housebuilders declined after reports that Deutsche Bank has cut ratings for a number of market leaders in the sector.
Barratt Developments, Taylor Wimpey and Persimmon fell 1-2 percent.
Renault rose about 1 percent in Paris. The French automaker and Japanese automotive firm Nissan Motor Co., have announced plans to invest $600 million or 5300 crores Indian rupees in India, supporting the production of six new models, including two electric vehicles.
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