European markets edge higher as investors eye second round of Brexit talks; Weir Group up 7.8% – CNBC

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European bourses edged higher on Monday, as investors reacted to robust economic growth data in China and monitored the second round of formal Brexit talks in Brussels.

The pan-European Stoxx 600, which fluctuated between small gains and losses in morning trade, moved up 0.18 percent in lunchtime deals.

Basic resources stocks – with their heavy exposure to China – were the best performing in early afternoon trade, up almost 1 percent. China reported stronger-than-expected economic growth data on Monday as the world’s second-largest economy was supported by robust industrial output, retail sales and exports. The Chinese economy grew 6.9 percent (year-on-year) in the second quarter to keep pace with the first quarter of 2017, according to the National Bureau of Statistics.

Back in Europe, engineering firm Weir Group soared to the top of the benchmark after the company said it expected its oil and gas unit’s full-year revenues to surpass analyst’s forecasts. Shares rose over 7.8 percent on the news.

British broadcaster ITV announced Carolyn McCall is set to become its new chief executive on Monday. McCall, who had worked as easyJet’s CEO for seven years, is due to assume her new role with the U.K.’s biggest free-to-air commercial broadcaster on January 8, 2018. ITV’s shares were almost 3 percent higher, while easyJet’s shares were up around 1 percent.

Sweden’s Getinge dropped to the bottom of the benchmark on Monday after it announced notice of an extraordinary general meeting to its investors. Shares dipped nearly 8 percent.

Not a Scientific Survey. Results may not total 100% due to rounding.

European markets edge higher as investors eye second round of Brexit talks; Weir Group up 7.8% – CNBC