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European stocks grind higher in pre-holiday trading

Published 12/19/2019, 04:28 PM
Updated 12/19/2019, 04:32 PM
European stocks grind higher in pre-holiday trading
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
LONDON, Dec 19 (Reuters) - European shares edged higher on
Thursday, with a pre-holiday lull making for a quiet trading
session aside from a handful of corporate updates.
The pan-European STOXX 600 .STOXX rose 0.2% by 0821 GMT,
with media, healthcare and utilities sectors leading gains.
All eyes will turn to the Bank of England's monetary policy
decision, due at 1200 GMT, one of the last big central bank
meetings this year.
While the BoE policymakers are not expected to move the
needle on rates, Swedish central bank is seen coming out with a
25 basis point rate hike, making it the first in Europe to pull
borrowing costs from sub-zero territory. Investors have largely shrugged off a vote by the U.S. House
of Representatives to impeach President Donald Trump as a
Republican-controlled Senate is widely expected not to vote to
remove Trump from office.
Swiss specialty chemicals Clariant CLN.S rose 2.9% after
saying it was selling a unit to U.S.-based PolyOne Corp POL.N
for $1.6 billion. European chipmakers Infineon Technologies IFXGn.DE and
STMicroelectronics STM.BN rose about 0.3% after U.S. rival
Micron Technology MU.O said it expected a recovery in 2020
after a "cyclical bottom" in the second quarter.

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