European equities marched higher on Monday, along with US stock futures, led by vaccine hopes, mergers and acquisitions news.
The Stoxx Europe 600 index
was up 0.3% after closing last week nearly 1.7% higher, the best weekly return since the week ending August 7
gained 0.3%, the French CAC 40
increased by 0.4%, while the FTSE 100 index
he was trading plates.
Investors will be listening to the Federal Reserve, Bank of England, and Bank of Japan in the coming days in a busy week for central bank meetings.
Wall Street was also aiming for a stronger start, with Nasdaq-100 futures
up 145 points, or 1.3%, while S&P 500 futures
were up 38.95 points, or 1.2%, and the Dow Jones Industrial Average futures
jumped 278 points, or 1%.
These gains came in the wake of a losing week for Wall Street, with the Dow
down 1.7%, the S&P 500
down 2.5% and the Nasdaq
down 4.1%, the worst weekly loss since the week ending March 20.
Renewed hopes for a coronavirus vaccine also helped to improve sentiment earlier in the week.
Chief Executive Albert Bourla said in an interview Sunday that the drug manufacturer should know if its COVID-19 vaccine candidate will work by the end of October and, if approved, could be released in the U.S. by the end of October. ‘year. Pfizer is partnering with German drug manufacturer BioNTech
on vaccine development.
Oxford University also announced on Saturday that it will resume a trial for the coronavirus candidate it is developing with AstraZeneca
The study was stopped last week after a British patient fell ill pending a review of the “unexplained disease”. Oxford University said it was deemed safe to continue. AstraZeneca’s shares increased by 0.5%.
US-based Gilead Sciences Inc. announced on Sunday a $ 21 billion deal to purchase Biotech Immunomedics Inc. IMMU, a manufacturer of a key breast cancer drug.
Japanese tech conglomerate SoftBank Group Corp. announced late Sunday a $ 40 billion deal to sell UK-based microprocessor designer Arm Holdings to chip maker Nvidia
for a mix of cash and stocks.
The technology sector was also lifted by M&A, with shares in the German software group SAP SE
up 0.3% and chip equipment manufacturer ASML Holding NV
up by 0.3%.
And the race for TikTok is heating up. Oracle Corp. software group
it was suggested to take over the video-sharing app in the US after China’s ByteDance apparently turned down an offer from tech giant Microsoft Corp.
But in the latest twist, Chinese state media claims ByteDance rejected Oracle as well.
Elsewhere, Euronext NV
said on Monday that it had submitted a non-binding offer to acquire Borsa Italiana from London Stock Exchange Group PLC
The pan-European exchange has collaborated with the Italian credit institutions Cassa Depositi e Prestiti Equity and Intesa Sanpaolo SpA
on the offer. Shares of Euronext slid 0.2% and London Stock Exchange shares rose 0.5%.