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Europe: Defensive buying drives stocks higher; FTSE outperforms

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[BENGALURU] European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform. Read more at The Business Times.

European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform.[BENGALURU] European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform.

London shares jumped 1 per cent, outpacing their European peers, as the internationally focused stocks got a boost from a a slump in sterling on fresh Brexit worries.On the main Stoxx index, defensive sectors such as food and beverage, healthcare and utilities - which tend to be favoured during times of economic uncertainty - led the gainers.

"There are some hopes that will be talks between the two parties and the US holiday is having an impact as well. Investors are waiting for a direction from US markets."Trade reliant sectors like technology stocks and autos lagged, and commodity-linked stocks turned to losses after initially leading gains in the region on a surge in iron ore prices.

 

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