Investing.com -- British stocks opened higher on Monday, kicking off the week on a positive note as markets reacted to “substantial progress” in trade talks between the U.S. and China over the weekend.
As of 0710 GMT, the blue-chip index FTSE 100 gained 0.8% and British pound fell 0.3% against the dollar to 1.33. Meanwhile, DAX index in Germany rose 1.3%, the CAC 40 in France gained over 1%.
U.S., China set to unveil trade deal
Both countries are expected to announce a trade deal on Monday, after officials indicated progress in U.S.-China trade talks over the weekend.
U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters on Sunday that progress had been made, although they did not provide specific details.
“I’m happy to report that we made substantial progress between the United States and China in these very important trade talks,” Bessent said.
Qualcomm’s deadline to bid for Alphawave extended
Alphawave IP Group (LON:IPO) PLC (LON:AWE) said on Monday that the U.K. Takeover Panel has extended the deadline for Qualcomm Incorporated (NASDAQ:QCOM) to make a formal buyout offer, now setting it for May 27.
The deadline was previously pushed to May 12 from an original April 29 cutoff, following a mutual agreement between the companies to allow more time for ongoing negotiations, in line with U.K. takeover regulations.
(This story will be updated)