European indices managed decent gains with broad sector strength. Basic Resources, Travel, Tech, Food, and Financials all saw gains of a percent or more. Indices closed not too far off of highs with volume off just over 15% on the day. As the US pulled back from early post-open highs European indices gave back little from their better levels.
The better sentiment related to US trade talks with China led to solid gains today in the luxury space. Richemont rose 4.8% with Kering up 3%.
Heineken chugged 6% higher with FY revs, including organic beer volumes, and earnings seen up on the year.
EDF shook off earlier weakness to close up 1.8% on headlines that the French gov is looking to purchase the balance of shares it does not own and take the name private. The move could allow the firm to continue to pare dependence on nuclear reactors with the government pushing it more towards renewables.
As highlighted earlier, Osram +14% rallied with headlines that firms Bain and Carlyle may be teaming up to bid for the firm. Osram did confirm they are in talks.
Heavy economic releases are expected in China including FDI, New Yuan Loans, and trade data with continued weakness forecast for both imports and exports. GDP readings are due in Japan as well as in the EU and related countries.