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European Equities Rise as Commodities Stocks Gain, German Manufacturing Expands

European stocks were advancing on Monday morning as rising metals prices provided a boost for commodities stocks and survey data indicated that manufacturing activity improved in both France and Germany in October.

Manufacturing and services activity in Germany rose to its highest level since July and French manufacturing output rose at the fastest pace since March 2014 in October, although overall economic activity weakened in France, surveys produced by research provider IHS Markit showed.

In equities, Royal Philips ( PHG ), a Dutch electronics maker, rose 4.1% in Amsterdam, topping Europe's benchmark STOXX 600 index, after reporting a 14% increase its adjusted earnings before interest, tax, depreciation and amortisation in its third-quarter profit.

Media shares rose in Europe, with ITV (ITV.L) gaining 1.5% and Sky (SKY.L) rising 0.3% in London, lifted by news from the US that AT&T had agreed to buy Time Warner for $85.4 billion.

Mining companies were higher as rising metals prices provided a fillip; Antofagasta (ANTO.L) was up 2.4% and BHP Billiton ( BHP ) had added 1.9%. French financial services providers were also rallying with Natixis (KN.PA) advancing by 2.7% and Credit Agricole (ACA.PA) 2.4% higher. German airport operator, Fraport (FRA.DE) rose 4.1% and industrial company Thyssenkrupp (TKA.DE) gained 2.2% in Frankfurt.

The pan-European STOXX 600 gained 0.7% and the euro-region blue-chip STOXX 50 index rose 1.1%. The DAX in Frankfurt added 0.9% and the FTSE 100 in London rose 0.7%. The CAC 40 in Paris gained 0.9%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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