Economic news

London rules day on European markets on May Day holiday

European shares edged higher on Tuesday, with UK stock market keeping the market action as most European bourses were closed for Labour Day holiday.

The Stoxx Europe 600 index rose slightly to 385.44, extending Monday’s 0.2% surge.

The UK's FTSE 100 index nched up 0.1% to 7,520.08, set for its highest level since Jan. 31.

Sterling dropped to $1.3742 from $1.3765, touched overnight in New York, while the single European currency sank to $1.2053 from $1.2079.

J Sainsbury PLC advanced 1.5%, extending a 15% last session's rally boosted by news the supermarket chain has agreed to create a combined company with Walmart Inc.’s British business, Asda Group Ltd.

Shares of Just Eat PLC soared 4.1% as company reported a 49% jump in first-quarter revenue. 

Carlsberg A/S gained 0.5% after the Denmark-based brewer said it was on course to achieve its full-year forecasts.

Concerns over further U.S. President Donald Trump's decisions on the Iran nuclear deal supported higher crude prices, but overall investors' sentiment improved from his intention to delay metal tariffs on Canada, EU, Mexico.

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