European stocks on track for seventh straight month of gains

  • 8/31/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Aug 31 (Reuters) - European stocks rose on Tuesday, on course for their seventh straight month of gains, as hopes for more policy support overshadowed economic risks from a surge in COVID-19 cases caused by the Delta variant globally. The pan-European STOXX 600 index rose 0.1% by 0710 GMT, with Asian stocks reversing earlier losses as fresh signs of a slowdown in China’s economy spurred hopes of more stimulus. China-exposed miners were the top gainers, up 1.2%, followed by technology stocks and automakers. Germany’s blue-chip DAX outperformed its regional peers with a 0.4% rise, while the FTSE 100 gained 0.1% after a long weekend in Britain. Germany’s centre-left Social Democrats (SPD) extended their lead over Chancellor Angela Merkel’s conservatives, according to a latest poll published on Monday, just weeks ahead of a general election. Among individual stocks, Dutch technology investor Prosus NV rose 2% after it said it had agreed to buy Indian payments platform BillDesk for $4.7 billion. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta) Our Standards: The Thomson Reuters Trust Principles.

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