Market Headlines – 5/6/2018

US

  • US stocks began the week on a positive note, rising 0.4% yesterday. Technology stocks were among the top performers for the session, rising 0.8% as shares of Apple and Amazon settled at new highs.
  • Monday’s gains followed a strong session on Friday after the release of robust employment data. The US economy added 223,000 jobs last month, easily topping consensus expectations.
  • On the agenda for the week ahead, leaders from seven of the largest economies in the world are set to meet in Canada at a time when trade tensions between the US and key trade partners have increased.

 

Europe

  • European stocks also closed higher Monday amid speculation of potential mergers and acquisitions. The Euro Stoxx 50 index rose 0.5%, the German DAX index gained 0.4% and the French CAC settled 0.1% higher.
  • On the M&A front, French flag carrier Air France-KLM surged near the top of the European benchmark after AccorHotels said Sunday it was reviewing whether to buy a stake in the company.
  • Elsewhere, the Financial Times reported French bank Societe Generale and Italian rival Unicredit were exploring the possibility of a merger.

 

Asia

  • A relatively muted session in Asia overnight. Japanese equities settled 0.3% higher and Chinese stocks gained 0.5%.

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