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PHOTO FILE: The DAX chart of the German Equity Price Index is presented at the Frankfurt Stock Exchange, Germany, on July 19, 2019. REUTERS / Staff / File Photo
(Reuters) – European stocks edged up early on Monday. Italian stocks rallied after a sell-off amid political tensions as all eyes turned to the European Central Bank meeting this week.
Italian .FTMIB stocks outperformed after their worst day on Friday, as political tensions prompted speculation about early elections, which would increase investor uncertainty, but could also create a more aggressive coalition. favorable to the market.
After closing last week on the rise slightly on the hope that the US Federal Reserve can reduce interest rates by half a percentage point more aggressively next week, "he said. euro-euro stock index .STOXXE was up around 0.05% at 07:32 GMT.
The main Milan index recorded similar gains .FTMIB, but the broader pan-European index, which includes London and other non-euro markets, was slightly lower.
The ECB will meet on Thursday, with the money markets predicting a 10 basis point reduction in interest rates to more than 50%. Analysts say the Fed's statement next week should determine whether a stock rally since May will continue or stop.
The Dutch health technology company Koninklijke Philips NV (PHG.AS) up 2.7% after exceeding the comparable sales forecast for the second quarter.
Energy losses were controlled thanks to energy .SXEP followed the rise in crude prices on tensions in the Middle East. [O/R]
Report by Susan Mathew to Bengaluru; Edited by Patrick Graham
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