European stocks edge up as Glencore boosts STOXX 600
- Glencore shares touched their highest since July 2024, while Rio fell 2.2%
European shares opened higher on Friday, lifted by an 8% jump in Glencore that put the STOXX 600 on track for its longest weekly winning streak since May.
The gains reversed two sessions of losses, when weaker earnings and geopolitical tensions had cooled sentiment.
Rio Tinto said on Thursday it is in early talks to buy Glencore, a deal that would create the world’s largest mining company.
Glencore shares touched their highest since July 2024, while Rio fell 2.2%.
The STOXX 600 was up 0.4% by 0809 GMT.
Energy stocks and miners led advances, rising 1.7% and 1.5%, respectively.
Shares of Anglo American also rose 2.4%, a day after a filing from the European Commission showed that the miner’s deal with Canada’s Teck Resources is heading for antitrust clearance in Europe.
Dutch chip equipment maker ASML added 2.1%, after TSMC reported better-than-expected fourth-quarter revenue.
Chipmaker STMicroelectronics rose nearly 1%. Investors are also waiting for a crucial US jobs report on Friday, which is expected to show a slowdown in job growth in December due to caution among businesses.
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