STOXX 600 rises ahead of key data and US tech earnings, energy shares cap gains
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Philips tumbles on lowering full-year sales outlook
Melrose jumps after risk and revenue sharing explainer
Sonova climbs on news of resuming supply to Costco
STOXX 600 up 0.4%
Updated with closing prices
By Ankika Biswas and Pranav Kashyap
Oct 28 (Reuters) - Europe's main stock index closed higher on Monday as gains across most sectors outweighed the weakness in energy stocks on a slide in oil prices, with investors looking for crucial economic data and big-ticket U.S. tech earnings scheduled for later in the week.
The pan-European STOXX 600 .STOXX finished 0.4% higher after logging itsfirst weekly decline in three.
The energy sector .SXEP dropped 1.3% to a near two-week low asoil prices slid after Iran downplayed Israel'sretaliatory strike over the weekend.
On the flip side, construction and materials .SXOP and media .SXMP led the charge among sectoral gainers.
Travel and leisure sector .SXTP, which houses airline stocks such as Lufthansa LHAG.DE and easyJet EZJ.L, also gained as lower oil prices translate to increased profit margins for airlines.
France's CAC 40 .FCHI, which hit a one-week high, and Spain's IBEX 35 index .IBEX were the top gainers among regional bourses.
In the face of an improving inflation trend and economic concerns that prompted a European Central Bank interest-rate cut earlier this month, the bloc's third-quarter GDP and October inflation data this week will be at the top of investors' radar.
"We are making major downward revisions to our ECB interest-rate forecast... the bank will implement back-to-back 50-bps cuts in December and January," Capital Economics' Europe team noted.
The team highlighted their expectations of meagre economic growth at the start of the fourth quarter, concerns over a loosening labour market and slowing wage growth, and significant inflation risks over the next two years.
Other factors likely to set the tone for European and other global markets include earnings from a bunch of U.S. tech giants like Apple AAPL.O and Microsoft MSFT.O this week and the Nov. 5 U.S. Presidential elections.
While markets have started pricing in a second Donald Trump administration recently, Vice President Kamala Harris is leading Trump nationally by a marginal 46% to 43%, a recent Reuters/Ipsos poll showed.
On the earnings front, Philips PHG.AS slumped 17% after the Dutch medical devices maker lowered itsannual sales outlook owing to degrading Chinese demand.
German speciality-chemicals-maker Wacker Chemie WCHG.DE shed 3% after a third-quarter miss, while French auto-parts supplier OPMobility OPM.PA rose 5% after higher third-quarter revenue .
Galp GALP.LS shed 5% after the Portuguese energy firm gave a longer-than-expected drilling timeline for Namibia's four-well Exploration & Appraisal programme.
Melrose Industries MRON.L jumped 9.8% following the aerospace components supplier's explainer for its Revenue & Risk Sharing Partnership portfolio.
Among others, Sonova SOON.S climbed 7% after Reuters reported the Swiss hearing aid maker is resuming supplies to Costco COST.O.
Reporting by Pranav Kashyap and Ankika Biswas in Bengaluru; Editing by Mrigank Dhaniwala and Tasim Zahid
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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.
