European stocks ticked higher Monday but investors remained cautious ahead of policy decisions from two of the world’s major central banks this week.
The Stoxx Europe 600 rose 0.64% late morning, with the German DAX and the French CAC 40 rose 0.9% and 0.7% respectively.
Irish shares fared best, powering ahead more than 1% after airline Ryanair Holdings PLC posted a 4% profit increase and stuck to its earnings target for the year, despite the impact of the U.K.’s decision to leave the European Union.
The British FTSE 100 was up about 0.1%.
Nevertheless, markets appear only moderately optimistic ahead of U.S. Federal Reserve and Bank of Japan policy decisions this week, with early economic data suggesting the impact of Brexit will be contained to the U.K.
Recent economic figures from the U.S. were more positive than previously expected, driving policy makers to signal they could raise interest rates this year. Most investors believe fears that a stronger dollar would rattle global markets—increasing debt-servicing costs in emerging economies—will dissuade rate-setters at the Fed from acting before December.
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