European stocks were slightly higher as political uncertainty loomed in the market while investors remained cautious ahead of the Dutch elections and the Federal Reserve meeting. Advances among miners helped counterbalance weaker energy stocks.
The Stoxx Europe 600 index gained 0.14 percent. Basic Resources stocks led advancers, climbing 2.5 percent, while telecoms lagged behind. Banks have outperformed all other industry groups in March as government bond yields increased. Commodity producers in the Stoxx 600 followed gains in copper, breaking their longest losing streak since November 2015.
Among shares active in corporate news, Amec Foster soared 15.3 percent in mid-morning deals after it reached a deal with John Wood Group, which added 5.2 percent, at an overall £2.23 billion. Reports that Galliford Try arranged a merger proposal for U.K. housebuilder Bovis Group sent shares higher in early deals but have recently pared gains. Shares of Bovis climbed eight percent, Bellway edged up 0.7 percent while Taylor Wimpey rose 0.8 percent. Zurich-based food business Aryzta fell by almost seven percent after reporting an underlying net profit that declined 22.4 percent.
The material has been provided by InstaForex Company – www.instaforex.com