European shares start week on bright footing on autos, banks' boost
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Eurofins Scientific drops after Muddy Waters says short on co
Germany's Hochtief tops STOXX on Jefferies upgrade
STOXX 600 up 0.4%
Updated at 0838 GMT
By Shashwat Chauhan and Jesus Calero
June 24 (Reuters) -European shares advanced on Monday, shrugging off initial losses as automobile and bank stocks rose, while focus remained on the first round of French parliamentary elections later this week.
The pan-European STOXX 600 .STOXX rose 0.4% as of 0838 GMT. Autos .SXAP led gains with a 1.6% increase as the European Union and China agreed to hold talks on the planned imposition of tariffs on Chinese-made electric vehicles (EVs).
Euro zone banks .SX7E added 0.9% with Italian lenders such as BPER EMII.MI, UniCredit CRDI.MI and Monte dei Paschi di Siena BMPS.MI gaining between 2.4% and 3.7%.
The focus will be on the first round of France's parliamentary elections this week, with polls showing a lead for the far-rightNational Rally (RN) party and its allies.
The French benchmark .FCHI began the week 0.5% up.
Investors awaited commentary from at least four members of the European Central Bank (ECB) later in the day, including board member Isabel Schnabel, for clues on the central bank's monetary policy path.
On the data front, German business morale unexpectedly fell in June due to more pessimistic expectations of Europe's largest economy, according to asurvey.
"The optimism at the start of the year has given way to realism. The (latest) readings have illustrated that the German economy is still struggling to gain more momentum," said Carsten Brzeski, global head of macro at ING.
Last week, data for June showed the upturn in German business activity over the past two months slowed, while a broader euro zone reading showed business growth slowed sharply.
European shares had recouped some losses last week, following the French election shock-induced drop earlier this month. However, a fizzling rally in technology stocks had kept gains in check.
Among other stocks, Hochtief HOTG.DE advanced 8.7% as Jefferies upgraded the German construction firm to "buy" from "hold", citing the company's growing exposure to high-tech infrastructure projects.
Belgian pharmaceutical company argenx ARGX.BR jumped 7.1% after it said the U.S. FDA approved Vyvgart Hytrulo, a treatment for chronic inflammatory demyelinating polyneuropathy.
UK's Prudential PRU.L added 6.3% after the insurance group launched a $2 billion share buyback programme
On the flip side, Eurofins Scientific EUFI.PA dropped as much as 19% after short seller Muddy Waters said it is short on the French testing company.
Germany's Zalando ZALG.DE dropped 6.3% after Morgan Stanley cut the online retailer to "equal weight" from "overweight".
Reporting by Shashwat Chauhan in Bengaluru and Jesus Calero in Gdansk; Editing by Sohini Goswami
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
