European stocks push back toward record highs; aluminum producers surge after coup

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European stocks rose Monday, in the absence of U.S. trading. Aluminium group Norsk Hydro surges after coup boosts aluminum prices

European stocks jumped out of the gates on Monday, tracking gains out of Asia as investors took the view that weaker-than-expected U.S. jobs data last week will keep the Federal Reserve’s tapering plans at bay for longer.

The data cast a shadow over the continuing recovery in the U.S. and raised questions about whether the Federal Reserve could delay its long-anticipated plan to start tapering asset purchases. The main German index is facing the biggest shake-up in its history, with 10 new members from DAX’s midcap index being ushered in of September 20. Those include aerospace group Airbus AIR, +1.63%, e-commerce retailer Zalando ZAL, +0.13%, biotech and medical company Siemens Healthineers SHL, +0.07%, flavors and fragrance group Symrise SY1, -0.46%, meal-kit group HelloFresh HFG, -0.68%, pharmaceutical and laboratory equipment supplier Sartorius SRT, +6.

Luxury goods makers were also on the rise Monday, with shares of Christian Dior CDI, +3.10% climbing 3% and Burberry BRBY, +2.14% and LVMH Moët Hennessy Louis Vuitton MC, +2.09% up 2% each.

 

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