European stocks on track for seventh straight month of gains
(Reuters) – European stocks rose on Tuesday, on course for their seventh straight month of gains, as hopes for more policy support overshadowed economic risks from a surge in COVID-19 cases caused by the Delta variant globally.
The pan-European STOXX 600 index rose 0.1% by 0710 GMT, with Asian stocks reversing earlier losses as fresh signs of a slowdown in China’s economy spurred hopes of more stimulus.
China-exposed miners were the top gainers, up 1.2%, followed by technology stocks and automakers.
Germany’s blue-chip DAX outperformed its regional peers with a 0.4% rise, while the FTSE 100 gained 0.1% after a long weekend in Britain.
Germany’s centre-left Social Democrats (SPD) extended their lead over Chancellor Angela Merkel’s conservatives, according to a latest poll published on Monday, just weeks ahead of a general election.
Among individual stocks, Dutch technology investor Prosus NV rose 2% after it said it had agreed to buy Indian payments platform BillDesk for $4.7 billion.
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