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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam