As noted earlier several large European markets were shut today with small gains seen today on sharply slower turnover. Roughly 2/3’rds of the Stoxx 600 sectors finished higher with Basic Resources and Banks leading with gains of over a percent. It was not only the US that saw merger activity with a few notable acquisitions in Europe as well.
On the economic front ECB board members are wondering aloud that inflation continues to ease with a cut in rates being more talked about. Germany’s rep said the US/China trade spat may cut a percent off of global trade with the IMF’s Lagarde citing the spat in noting global GDP could slip .5% next year because of it.
Finnish construction equipment seller Ramirent ticked up 65% with French firm Loxam offering to buy the firm for €9.00 a share. The board recommends shareholders accept the bid. The combination of company’s will see revenue of about €2.2B yearly with over 1000 branches.
Air Liquide fell .7% on word they will offload their industrial gas unit to China’s Fujian, their customer in Southeast China.
Finland’s Metso +1.6% is buying Canadian mobile crushing firm McCloskey for €279M.
To the downside, gold miner Avesoro Resources fell over 60% with higher costs, lack of funding, and workers refusing to work. On that the company is moving towards contracting outside miners to meet volume requirements with expectations for associated higher costs.
From earlier: Renault +2.6%, Fiat Chrysler +1.7%, MediaSet +4.2%, MediaSet Espana -5.4%, Ferguson -4.6%, and Thomas Cook +17%.
Tonight, China releases Aggregate Financing data along with FDI. The UK releases jobs data.