SCEpK

Southern California Edison Company 5.45% Fixed-to-Floating Rate Trust Preference Securities

23.0689
USD
-1.29%
23.0689
USD
-1.29%
21.7000 26.3200
52 weeks
52 weeks

Mkt Cap 276.83M

Shares Out 12.00M

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European Stocks Close Higher Again

(RTTNews) - European stocks closed higher on Monday as additional stimulus measures announced by the Chinese government and relaxations in some coronavirus restrictions in the country raised optimism about growth in the world's second largest economy and helped underpin sentiment. Shanghai's Vice Mayor Wu Qing said over the weekend that authorities will loosen the conditions under which companies are able to resume work this week. Shanghai laid out a 50-point plan for accelerating economic recovery. According to Xinhua News Agency, the measures include tax cuts for businesses and subsidies for purchases of electric vehicles. The pan European Stoxx 600 gained 0.59%. The U.K.'s FTSE 100 ended 0.19% up, Germany's DAX climbed 0.72% and France's CAC 40 surged up 0.7%, while Switzerland's SMI ended higher by 0.76%. Among other markets in Europe, Austria, Czech Republic, Denmark, Finland, Iceland, Ireland, Netherlands, Poland, Portugal, Sweden and Turkey closed with sharp to moderate gains. Russia drifted lower, while Belgium, Greece, Norway and Spain ended flat. In the UK market, Melrose Industries surged up 5.2%. JD Sports Fashion, Ocado Group, RS Group, IAG, Antofagasta and Scottish Mortgage gained 3 to 4%. Ashtead Group, Royal Mail, Auto Trader Group, Rolls-Royce Holdings, Pershing Square Holdings, Aveva Group, Burberry Group, Barratt Developments and Prudential moved up 2 to 2.85%. Smith & Nephew, Entain, Spirax-Sarco Engineering and St. James Place gained nearly 2%. Countryside Partnerships soared 18.6% in London after Inclusive Capital Partners LP made a second confidential approach to buy the property developer. Ted Baker climbed nearly 5% on reports that Authentic Brands Group Inc. is in talks with the U.K. fashion chain over a takeover bid worth about 300 million pound ($379.35 million). Airtel Africa tumbled more than 5%. British American Tobacco drifted lower by about 2.65%, while Imperial Brans, Aviva and AstraZeneca lost about 1.6%, 1.4% and 1.1%, respectively. In the German market, Puma, Sartorius, HelloFresh, Zalando, Deutsche Bank, Adidas and Siemens gained 2 to 4.5%. Deutsche Post and Henkel gained nearly 2%. Infineon Technologies, Symrise, Continental, Porsche Automobil, Siemens Healthineers, Covestro and SAP also ended notably higher. In France, Hermes International, Air France-KLM and Kering climbed 3.7 to 4.1%. LVMH, Schneider Electric, Dassault Systemes and Renault gained 2.5 to 3%. Societe Generale, L'Oreal, Accor, Valeo, Faurecia, Michelin, Teleperformance, StMicroElectronics and BNP Paribas also closed with strong gains. Credit Agricole plunged nearly 8%. Sanofi ended nearly 2% down after an actual use trial of its Cialis erectile dysfunction treatment was put on clinical hold in the United States, due to concerns about how the trial protocol has been designed. WorldLine, Engie, Vinci, Thales and Bouygues lost 1 to 2%. In the Swiss market, shares of bakery giant ARYZTA zoomed 12.5% after raising its FY22 growth guidance. In economic news, Germany's consumer price inflation accelerated at a faster-than-expected pace in May to reach its highest level in nearly half a century, preliminary figures from Destatis showed. Consumer prices rose 7.9% year-over-year in May, faster than the 7.4% rise in April. Economists had expected inflation to rise to 7.6%. Moreover, this was the highest inflation rate since the winter of 1973-74, when mineral oil prices rose sharply as a result of the first oil crisis. The European Commission's monthly survey showed Euro zone economic sentiment was little changed in May, inching to 105.0 from 104.9 in April. Improved services sector optimism offset fading confidence in industry, the data showed. 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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