European Stocks Waver Ahead Of German Ifo Data

By Amwal Al Ghad English On Jun 24, 2013

European stock markets recovered slightly from a 2013 low on Monday, with investors remaining cautious ahead of German business-confidence data.

The Stoxx Europe 600 index inched 0.1% higher to 280.54. The benchmark closed at the lowest level in 2013 on Friday on concerns the U.S. Federal Reserve will soon scale back its asset purchases.

Among notable movers on Monday, shares of Kabel Deutschland Holding AG rose 2% after Vodafone Group PLC launched a formal 7.7 billion euro ($10.1 billion) cash offer for the German cable operator. Vodafone shares rose 0.8%. Shares of Metro AG dropped 2.5% after Citigroup cut the firm to sell from neutral. Germany’s DAX 30 index traded 0.2% higher at 7,804.36. France’s CAC 40 index was marginally lower at 3,657.51 and the U.K.’s FTSE 100 index rose 0.1% to 6,124.98.

Source : Marketwatch

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