European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform.[BENGALURU] European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform.
London shares jumped 1 per cent, outpacing their European peers, as the internationally focused stocks got a boost from a a slump in sterling on fresh Brexit worries.On the main Stoxx index, defensive sectors such as food and beverage, healthcare and utilities - which tend to be favoured during times of economic uncertainty - led the gainers.
"There are some hopes that will be talks between the two parties and the US holiday is having an impact as well. Investors are waiting for a direction from US markets."Trade reliant sectors like technology stocks and autos lagged, and commodity-linked stocks turned to losses after initially leading gains in the region on a surge in iron ore prices.
Source: News Formal (newsformal.com)
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