European stocks close mixed; Darktrace surges 12%
The pan-European Stoxx 600 closed slightly above the flatline provisionally, with basic resources stocks gaining 1.3% while travel and leisure shares sank 1.1% as sectors pointed in opposite directions.
The lackluster day followed a mixed trading session in Asia-Pacific overnight where investors were reacting to China’s trade data released over the weekend.
Official data released over the weekend showed China’s exports surging 27.1% in October compared to a year ago. That was higher than the 24.5% growth forecast by analysts in a Reuters poll.
On Wall Street, U.S. stocks were higher with the Dow Jones Industrial Average jumping to a new intraday high Monday after Congress approved a $1.2 trillion infrastructure spending package.
First passed by the Senate in August, the package would provide new funding for transportation, utilities and broadband, among other infrastructure projects.
The major U.S. market indexes reached record highs on Friday following a better-than-expected October jobs report — U.S. payrolls added 531,000 jobs last month, according to the Labor Department. Friday’s report also revised up September and August payroll numbers.
This week, investors are looking ahead to fresh inflation readings in the U.S. The producer price index and consumer price index are slated for release on Tuesday and Wednesday, respectively. Economists expect both inflation numbers to run hot for October.
Earnings before the bell came from Henkel and Covestro, the former sliding 5.9% to the bottom of the Stoxx 600 after lowering its guidance.
Siemens Gamesa added 9% after its full-year results, while Darktrace jumped more than 12.6% to lead the European blue chip index after Berenberg reiterated its “buy” recommendation on the stock.
