European stocks edge higher in cautious trading

  • 02 September, 2021
  • 10:38 am EEST

European stocks edged higher on Thursday supported by oil and chemical companies, while doubts over monetary policy outlook and signs of slowing global growth limited gains across the board.

The pan-European STOXX 600 index .STOXX was up 0.1% by 0713 GMT after Asian shares slid as concerns grew over the Chinese economy after a run of soft data. MKTS/GLOB

Investors refrained from making big bets ahead of the U.S. jobs data on Friday that could influence the Federal Reserve’s thinking over policy tightening.

The European Central Bank is set to meet next week, with some of the hawkish members recently calling out the bank to pare back its pandemic-era bond purchases.

Among individual stocks, Swedish Orphan Biovitrum SOBI soared 24.2% after U.S. venture capital firm Advent International and Aurora Investment offered to buy the drugmaker in a deal valued about 69.4 billion Swedish crowns ($8 billion).

Miner BHP Group BHP fell 5% on ex-dividend trading, weighing on the UK’s blue-chip FTSE 100.

British engineering firm Melrose Industries 27M gained 4.6% as it reported a first-half profit.

Source: Tradingview


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