Drive time
STOXX 600 up 0.4%
Autos lead gainers
Britvic rallies
Wall St futures higher
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DRIVE TIME
Autos stand out in what was otherwise a quiet first hour or so of European trading up 1.8%, while the overall STOXX 600 is up 0.4% with China EU trade tensions in the spotlight.
China and the European Union have agreed to start talks on the planned imposition of tariffs on Chinese-made electric vehicles being imported into the European market, officials on both sides said at the weekend, helping the autos sub sector .SXAP to its highest in a little over a week.
The sector is still down 3.4% in June, mind you, so the bounce isn't one to get too excited by yet.
Most national indexes were in the green with Italy, up 0.9% among the leaders .FTMIB
In single stocks news Britvic is at the top of the STOXX 600 BVIC.L up 8.7% and at a record high as Danish brewer Carlsberg's CARLb.CO hopes to acquire the soft drinks maker took a step forward.
Carlsberg said on Monday PepsiCo PEP.O has agreed to waive a change of control clause in its bottling arrangements with Britvic, potentially paving the way for Carlsberg to raise its bid. Britvic has rejected two approaches from the Danish firm so far.
At the bottom of the STOXX 600 is Eurofins Scientific down 15% after Muddy Waters says it is short the company.
(Alun John)
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