KEY POINTS
- Investors be looking out for the latest Ifo business climate survey from Germany on Tuesday, along with a more detailed picture of first-quarter German gross domestic product (GDP) figures.
- The political fallout continues from Belarus’ “hijacking” of a Ryanair plane, forcing it to land in Minsk where it promptly arrested a prominent opposition activist
- Deutsche Wohnen shares climbed more than 15% in early trade after announcing that it had agreed to a $22 billion takeover bid from Europe’s largest residential property company Vonovia.
European stocks made modest gains Tuesday morning as easing inflation fears lifted global market sentiment.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE | VOLUME |
|---|---|---|---|---|---|---|
| .FTSE | FTSE 100 | FTSE | 7042.36 | -9.23 | -0.13 | 80508915 |
| .GDAXI | DAX | DAX | 15548.05 | 110.54 | 0.72 | 23255175 |
| .FCHI | CAC 40 Index | CAC | 6406.79 | -1.70 | -0.03 | 7035999 |
The pan-European Stoxx 600 climbed 0.3% in early trade, with tech stocks adding 1.1% to lead gains as almost all sectors and major bourses entered positive territory.
European investors will be looking out for the latest Ifo business climate survey from Germany on Tuesday, along with a more detailed picture of first-quarter German gross domestic product (GDP) figures.
Meanwhile, the political fallout continues from Belarus’ “hijacking” of a Ryanair plane. The government forced it to land in Minsk where it promptly arrested a prominent opposition activist. European officials agreed to put more sanctions on Belarus at a meeting on Monday.
The mildly optimistic open for Europe’s main markets comes as U.S. stock futures also gathered pace in early premarket trade on Tuesday, following a strong session led by technology shares and reopening plays.
The major averages rose on Monday, led by tech stocks and companies that benefitted from a strong reopening from the pandemic as Covid cases dropped to their lowest level since June.
Meanwhile, shares in Asia-Pacific rose in Tuesday morning trade following gains stateside, with mainland Chinese markets leading the way.
Vonovia, Deutsche Wohnen on the move after takeover deal
Deutsche Wohnen shares climbed more than 15% in early trade, after announcing that it had agreed to a $22 billion takeover bid from Europe’s largest residential property company Vonovia.
Vonovia’s share price fell 5.8% on the news to the bottom of the Stoxx 600 alongside U.K. travel booking company Trainline, which continues to suffer after the British government announced an overhaul of its rail system.
