May 17, 2021

European shares near three-week high on U.S. stimulus hopes

(Reuters) – European stocks resumed gains on Thursday, inching closer to a three-week high on expectations of a targeted U.S. stimulus package as well as positive corporate updates.



a close up of a sink: FILE PHOTO: The German share price index DAX graph at the stock exchange in Frankfurt


© Reuters/STAFF
FILE PHOTO: The German share price index DAX graph at the stock exchange in Frankfurt

The pan-European STOXX 600 index <.stoxx> rose 0.7% by 0707 GMT, with travel and leisure <.sxtp>, industrial <.sxnp> and chemical <.sx4p> sectors leading the gains.

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Wall Street indexes surged overnight on signs that talks over aid to the pandemic-ravaged airline industry were progressing in Washington even as U.S. President Donald Trump called off talks on a more comprehensive deal.

Ratos AB jumped 11.3% after U.S. business analytics company Dun & Bradstreet said it would acquire Europe’s Bisnode from the Swedish private equity firm. Mediobanca rose 2.4% after eyewear tycoon Leonardo Del Vecchio raised his stake to just above 10% in Italy’s top investment bank. Sensor maker AMS slipped 3.1% as it posted third-quarter sales near the upper end of its guidance range and announced issuance of bonds to secure long-term financing.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)

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