European shares edged higher on Monday, supported by banks and technology stocks, as investors braced for Donald Trump’s inauguration as US president.
The pan-European STOXX 600 was up 0.2% as of 0813 GMT, after adding more than 2% over the last week. US markets were closed for Martin Luther King Day, keeping trading volumes lighter than usual.
Donald Trump will be sworn in as US president at 12:00 pm ET (1700 GMT) in a highly anticipated global event, with investors’ focus on his policies, including trade tariffs, which are expected to keep markets volatile in the coming days.
European stocks see off holiday-shortened week lower
The annual gathering of the world’s political, business and financial leaders at the World Economic Forum (WEF) in the Swiss town of Davos is another key event this week. Among individual stocks, Siemens Energy dropped 1.8%, with traders pointing to a downgrade by UBS to “sell.”
Belimo Holding advanced 2.6% after the Swiss heating and ventilation solutions maker reported full-year revenue above market expectations.
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