European stocks on track for seventh month of gains; Arkema, Prosus rise after deals

In midday trade, the Stoxx Europe 600 SXXP, -0.39% rose 0.2% to 473.75, taking August gains to over 2%. The index has gained 20% since closing lower for January.

Of the major regional indexes, the German DAX DAX, -0.10% rose 0.6%, the French CAC 40 PX1, -0.32% increased 0.2%, while the U.K. FTSE 100 UKX, -0.64% declined 0.2%. The biggest Stoxx 600 gainer was Arkema AKE, +4.78%, which rose 6% after the French chemicals company agreed to buy the performance adhesives business of Ashland Global Holdings ASH, +0.07% for $1.65 billion. Arkema says the deal will boost earnings from the first year of integration and will boost its profit margin for 2024.

Prosus PRX, +4.82% was also up, with the technology investor rising 5% after its deal to buy India’s BillDesk for $4.7 billion. Prosus was also buoyed by a 3% rise in Tencent 700, +3.31%, in which it has a 29% stake. The biggest Stoxx 600 faller was International Consolidated Airlines Group IAG, -3.69%, which fell 3% as the European Union voted to reimpose limitations on U.S. travel to the Continent.

good

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks on course for seventh straight month of gainsEuropean stocks edged higher on Tuesday, on track for their seventh straight month of gains, as hopes for more policy support overshadowed economic risks from the Delta variant of the coronavirus.
Source: Reuters - 🏆 2. / 97 Read more »

European stocks struggle for traction with London out for a holidayEurope stocks inched higher on Monday, with some gains in the chemical sector, but in a mostly lackluster session marked by a U.K. holiday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Wall St Week Ahead A blazing U.S. stock rally faces market's toughest monthA rally in which U.S. stocks have doubled from post-pandemic lows is about to enter the year’s worst month for equities, as investors focus on a nationwide COVID-19 resurgence and how quickly the Federal Reserve plans to pull back on its easy money policies.
Source: Reuters - 🏆 2. / 97 Read more »