European Shares Edge Higher With Economic Data In Focus

European stocks advanced on Monday after a survey showed activity in Germany’s manufacturing and services sectors expanded in August.

Growth in French business activity eased in the month, while the Eurozone manufacturing PMI came in at 61.5 versus 62.0 expected and 62.8 last.

The bloc’s services PMI dropped to a two-month low of 59.7 in August versus 59.8 expected, data showed.

The pan-European STOXX 600 inched up 0.2 percent to 469.81 after gaining 0.3 percent on Friday. The German DAX traded flat with a positive bias, while France’s CAC 40 index climbed 0.6 percent and the U.K.’s FTSE 100 rose 0.3 percent.

Higher commodity prices helped lift miners, with Anglo American, Antofagasta and Glencore rising 1-2 percent.

TotalEnergies rose 0.7 percent, BP Plc rallied 1.8 percent and Royal Dutch Shell gained 0.8 percent as Brent oil prices climbed after capping the longest run of declines in more than three years.

Vonovia shares declined 1.7 percent after the German residential real estate company launched its voluntary public takeover offer for shares of Deutsche Wohnen.

Dialog Semiconductor was little changed after announcing a partnership with Carnival Corp.

BioNTech jumped 4 percent on the buzz the U.S. FDA was aiming to give full approval to its partner Pfizer’s COVID-19 vaccine by Tuesday.

Swiss chemicals firm Clariant dropped half a percent after it acquired remaining 70 percent stake in Brazilian Personal Care specialty company Beraca to seize full control.

Cembra Money Bank plummeted 26 percent after terminating credit card partnership with Swiss retailer Migro.

British advertising company WPP was gaining ground after it acquired Satalia, an artificial-intelligence technology company, for an undisclosed sum.

Sainsbury soared 12 percent after a report an American private equity firm is exploring a takeover of the supermarket chain.

ING rose about 1 percent. The Dutch bank said it has appointed Marnix van Stiphout as chief operations officer and chief transformation officer and member of the Management Board Banking.

easyJet shares advanced 1.3 percent. The airline said it has appointed Stephen Hester as a director and Chair designate.

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