BREAKING NEWS

European shares extend winning streak; Qiagen jumps as company explores sale

European shares extend winning streak; Qiagen jumps as company explores sale
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2019. REUTERS/Staff -
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(Reuters) – European shares edged closer to a record level on Monday, as optimism around U.S.-China trade talks and a surprise move by China’s central bank in cutting a key interest rate painted an upbeat picture about global growth.

The pan-European STOXX 600 index <.STOXX> rose 0.17% by 0814 GMT, extending gains after its six-week winning streak. The index is only 8 points short of an all-time high of 415.18 points hit in mid-April.

Chinese state media Xinhua reported over the weekend Beijing and Washington had “constructive talks” on trade in a high-level phone call on Saturday.

Also adding to the positive sentiment was news that China’s central bank unexpectedly trimmed a closely watched lending rate for the first time in more than four years on Monday, a signal that policymakers are ready to act to prop up slowing growth.

Among stocks, Frankfurt-listed shares of genetic testing company Qiagen NV <QIA.DE> shot 13.2% to the top of STOXX 600 after the company said it had started reviewing options including a sale.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

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