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Europe: Stocks inch higher on UK merger action

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[BENGALURU] European stocks ground out a tiny gain on Monday, as a pair of big merger reports and a weak pound sent London's FTSE 100 higher, while defensive plays dominated other major markets ahead of Wednesday's US Federal Reserve policy decision. Read more at The Business Times.

European stocks ground out a tiny gain on Monday, as a pair of big merger reports and a weak pound sent London's FTSE 100 higher, while defensive plays dominated other major markets ahead of Wednesday's US Federal Reserve policy decision.

The exporter-heavy index also drew support from a slide in sterling on a perceived rise in the chances of Britain exiting the European Union without a deal under new Prime Minister Boris Johnson.Ireland's main stock index ISEQ, which has tended to fall on fears of a disorderly Brexit, skidded 0.9 per cent.

The Fed is widely predicted to cut rates by a 25 basis point for the first time in a decade on Wednesday, but investors will be watching its statement for clues on whether that is just the start of new cycle of easing by the US central bank.

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