European Stocks Edge Higher on Monday

Stocks in Europe and Asia rose, led by telecommunications shares, after the S&P 500 climbed to a fresh record last week. Unilever tumbled after Kraft Heinz Co. withdrewits $143 billion bid.

European stocks gained and U.S. futures pointed higher even as Unilever slumped more than 8 percent. Japan’s Topix climbed as the yen halted a three-day advance following comments by a Federal Reserve official. Chinese shares traded in Hong Kong rose for the third time in four sessions. Gold was little changed after gaining for seven out of the past eight weeks, while oil advanced for a third day.

With U.S. bond and stock markets shut on Monday for Presidents’ Day, investors are turning to corporate and political developments. Europe was thrown back into focus after a poll showed Angela Merkel’s ruling party were behind the Social Democrats for the first time under her leadership.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.