(RTTNews) - The European markets may open on a positive note Monday after finance ministers of G-20 countries pledged to maintain stimulus measures for their economies until the global economy was back on track.

The mood across Asia remained fairly bullish on Monday amid recovery hopes and some encouraging corporate news. However, the gains are limited in some markets with a section of investors appearing a bit concerned about the pace of economic recovery.

Crude oil prices, meanwhile, rose by more than a percent above $78 a barrel in Asian trading on Monday, boosted by a weaker U.S. dollar.

On Wall Street, a subdued reaction to monthly employment figures kept the major averages near the unchanged mark on Friday. The market remained week initially on the heels of the release of a report from the Labor Department that showed employment fell by more than expected in the month of October. However, it moved higher later on in the day on bargain hunting and ended with modest gains. While the Dow closed up 0.2%, the Nasdaq and the S&P 500 rose by 0.3% each. The Dow futures are currently up by 32 points.

In corporate news, just days after automaker General Motors unexpectedly announced its pull out from the Opel/Vauxhall deal, Group Vice President and President of Opel Europe Carl-Peter Forster has reportedly decided to leave the company.

Hochschild Mining Plc announced that it has purchased a further 6.2 million common shares in West Timmins Mining Inc. for a total cash consideration of C$17.6 million giving it ownership and control of 26.1 million outstanding common shares of West Timmins Mining.

Tobacco giant Reynolds American Inc. is in advanced talks to buy a Swedish maker of products that help people stop smoking, the Wall Street Journal reported.

French insurance group AXA SA and Australian insurer AMP offered Sunday to acquire Australian asset manager AXA Asia Pacific holdings in a cash and stock deal valued at about A$5.34 per share or A$11 billion.

According to media reports, Kraft Foods is expected to a make a formal hostile bid for Cadbury Plc. on Monday. The U.K. confectionery giant had earlier rejected an informal offer from Kraft. British Airways Plc said its cabin crew unions notified the company of plans to hold a strike ballot.

The Renault- Nissan chief, Carlos Ghosn, said that the company’s new factory in Chennai, southern India, which the company plans to use it as a global manufacturing base, should be open by the first quarter of next year.

French bank Societe Generale SA last week repaid the 3.4 billion euros of state support it received in the depths of the financial crisis.

Sonova Holding AG said it has entered into a share purchase agreement with the shareholders of Advanced Bionics Corp for a consideration of US$489 million to be paid fully in cash.

The European markets rose for the third day on Friday, as a rally among banking and mining stocks overshadowed a report showing the highest U.S. unemployment rate in more than 26 years.

The FTSEurofirst 300 index of pan-European blue chips closed 0.20% higher, while the narrower DJ Stoxx 50 index rose 0.20%. Around Europe, the U.K.’s FTSE 100 index rose 0.33% and Germany’s DAX index advanced 0.13%, while France’s CAC 40 index closed almost unchanged.

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Posted in Categories: Australia, Eurozone, Releases, Stocks, UK, USA.

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