EUROPE, WORLD MARKETS
Hottest European Stocks Now: Perrigo Company plc (PRGO), Euronav NV (EURN)
European stocks were higher Monday, aided by a rally in Italian bank shares and advances within the commodities group.
The Stoxx Europe 600 SXXP, +0.57% rose 0.4% to 333.13 after opening with a slight loss. Financial, mining and telecommunications shares advanced while consumer goods, technology and industrial shares struggled.
The index on Friday ended higher by 1.2%, but closed the week with a fourth consecutive weekly decline.
On Monday, Italy’s FTSE MIB FTSEMIB, +1.28% was the best performing of the major indexes, rising 0.8% to 17,649.94. The rise came on the back of strengthening in Italian banks as investors awaited word from a meeting between Italy’s central bank and Treasury officials about the beleaguered industry. There are expectations that a fund may be set up to deal with bad loans.
Italian bank stocks topped the Stoxx 600, with Banca Monte dei Paschi di Siena SpA BMPS, +9.25% up 8.2%, Banco Popolare Societa Cooperativa SCRL BP, +7.73% up 7% and Unione di Banche Italiane SpA UBI, +6.94% picking up 6.4%.
Miners: Meanwhile, most mining shares were higher, driving up after soft inflation data from China spurred further expectations for more stimulus measures from the Chinese government. China is a key buyer of metals. Copper producer Anglo American PLC AAL, +3.55% gained 3.5% and Boliden AB BOL, +1.42% gained 1.3%.
But decliners in the group included Imerys SA NK, -0.13% which shed 0.2%.
Perrigo Company plc (PRGO) ended last trading session with a change of -2.03 percent. It trades at an average volume of 1.92M shares versus 1.32M shares recorded at the end of last trading session. The share price of $128.70 is at a distance of 5.08 percent from its 52-week low and down -40.14 percent versus its peak. The company has a market cap of $18.81B and currently has 146.17M shares outstanding. The share price is currently -1.84 percent versus its SMA20, -3.4 percent versus its SMA50, and -18.66 percent versus its SMA200. The stock has a weekly performance of 1.55 percent and is -10.95 percent year-to-date as of the recent close.
Euronav NV (EURN) recently recorded -1.69 percent change and currently at $9.89 is 5.44 percent away from its 52-week low and down -39.06 percent versus its peak. It has a past 5-day performance of -0.9 percent and trades at an average volume of 1.13M shares. The stock has a 1-month performance of 0.92 percent and is -27.86 percent year-to-date as of the recent close. There were about 158.63M shares outstanding which made its market cap $1.57B. The share price is currently -3.22 percent versus its SMA20, -6.21 percent versus its SMA50, and -23.79 percent versus its SMA200.