New York — Nestle’s jump to a record high boosted European stocks and helped buoy a global index, while the US dollar index was close to recent lows and the US yield curve flattened after soft capital goods data. Stocks were volatile on Wall Street, with technology going from top gainer to top decliner in the course of the morning. A massive trade in gold futures as Europe opened for trading dragged the contract to a six-week low. European shares rose for the first session in four as banks rallied after Italy reached a deal to wind up two failed regional lenders. Nestle jumped after an activist investor urged changes at the world’s largest food company. The pan-European FTSEurofirst 300 index rose 0.41% and MSCI’s gauge of stocks across the globe gained 0.25%. Bank stocks rose after an agreement under which Italy’s largest retail bank, Intesa Sanpaolo, will take on the remaining good assets of collapsed Popolare di Vicenza and Veneto Banca. New orders for key US-made capital goods u...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.