Germany faces snap elections
Italy39;s Banco BPM rises on offer for Anima Holding
Tech and autos lead rebound
STOXX 600 up 0.5
Nov 7 Reuters European stocks gained on Thursday, boosted by technology and resources shares, with the focus on policy decisions from the Federal Reserve and other major central banks, including the Bank of England BoE, later in the day.
The panEuropean STOXX 600 was up 0.5, powered by the basic resources index following a rebound in base metal prices.
Shares of ArcelorMittal gained nearly 5 after the world39;s secondlargest steelmaker reported its thirdquarter core profit above market expectations.
Euro zone banks were up 1.1 as Banco BPM, Italy39;s thirdlargest lender, climbed nearly 10 on plans to launch a bid for full control of asset manager Anima Holding in a deal worth up to 1.6 billion euros 1.7 billion. Shares of Anima jumped 9.3 following the announcement.
The tech sector recouped losses from the previous session to climb 1.5, while autos added 1.8 after a more than 2 decline on Wednesday.
Europe39;s benchmark gained as much as 1.9 in the previous session, tracking a surge on Wall Street after Donald Trump recaptured the U.S. presidency with a sweeping victory, although the index closed lower as investors assessed the likelihood of tariffs.
We had signals that the U.S. election would be quite binary for Europe where we could have an outperformance in the case of a Harris victory, less so in the case of a Trump victory, said…