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European stocks kick off November with fresh highs -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany on October 29, 2021. REUTERS/Staff

(Reuters) – European stocks reached record heights Monday as they enter November on a positive momentum thanks to upbeat earnings reports and the fact that eurozone markets have outperformed early deals.

Pan-European was up 0.8% at 0829 GMT. This is a significant increase from its mid-August all-time record. Japan’s post election boost and the stabilisation of coal prices in China buoyed global sentiment. [GLOB/MKTS] [MET/L]

German, 40 and 100 all rose 0.8% while 100 was only 0.4%.

British bank Barclays LON: (LON) dropped 2.0% following the announcement that Jes Staley, chief executive officer of the company was to resign after regulators investigated his connections with Jeffrey Epstein, convicted sex offender.

Pharma stocks were one of the biggest boosts. French drugmaker Sanofi (NASDAQ): Stock is up 2.0% since HSBC raised the stock’s price to “buy”.

Volkswagen (DE:), gained 0.7% on Monday after it said that the Skoda Automobile would restart production following a two-week interruption due to the chip crisis.

Pandora (OTC-:), the largest jewel maker in the world, lost 3.5% despite a better outlook for next year.

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