{"id":112850,"date":"2021-02-15T05:37:16","date_gmt":"2021-02-15T05:37:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112850"},"modified":"2021-02-15T05:37:16","modified_gmt":"2021-02-15T05:37:16","slug":"european-shares-gain-on-economic-recovery-hopes","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/european-shares-gain-on-economic-recovery-hopes\/","title":{"rendered":"European Shares Gain On Economic Recovery Hopes"},"content":{"rendered":"
European stocks were moving higher on Monday amid optimism that a slowdown in the spread of coronavirus<\/span> in different parts of the world and vaccine rollout efforts will result in a swifter global economic recovery. <\/p>\n The pan European Stoxx 600 rose 0.4 percent to 410.98 after ending on a flat note Friday. The German DAX edged up 0.2 percent, France’s CAC 40 index gained 0.6 percent and the U.K.’s FTSE 100 was up half a percent.<\/p>\n Swiss specialty chemicals company Sika AG added 1.3 percent. The company has agreed to acquire Kreps LLC, a mortar manufacturer in Russia. <\/p>\n Dutch paints and coatings maker Akzo Nobel N.V. gained 1.4 percent after saying it does not plan to pursue acquisition of Tikkurila.<\/p>\n BP Plc rose 1.3 percent in London and Royal Dutch Shell edged up slightly after oil prices surpassed $60 a barrel on the back of tightened global oil supplies and renewed hopes over the passing of the U.S. stimulus package.<\/p>\n Rolls-Royce Holdings declined 1.6 percent after reports that it plans to shut down its jet engine factories this summer due to insufficient work.<\/p>\n Metro AG shares rallied 2 percent. The German wholesale retailer is set to appoint Steffen Greubel as new chief executive of the company with effect from May 2021.<\/p>\n 1&1 Drillisch AG surged 6 percent. The telecommunications company said that its subsidiary, Drillisch Online GmbH, has received the arbitral award in the arbitration proceedings regarding Price Review 1 under the existing MBA MVNO agreement with Telef\u00f3nica.<\/p>\n Dialog Semiconductor shares soared as much as 16 percent. The chip designer confirmed that it is in advanced discussions with Renesas Electronics Corp. regarding a possible all cash offer of 67.50 euros per Dialog share for Dialog.<\/p>\n In economic news, Germany’s industrial production remained flat in December, data from Destatis revealed.<\/p>\n Industrial production was unchanged compared to previous month, following a revised 1.5 percent rise in November. Economists had forecast a 0.3 percent rise for December.<\/p>\n On a yearly basis, the decline in industrial output eased to 1 percent from 2.5 percent a month ago. <\/p>\n