By Steve Goldstein
European stocks advanced on Tuesday, as they look to record a seventh straight month of gains.
In midday trade, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.07% rose 0.2% to 473.75, taking August gains to over 2%. The index has gained 20% since closing lower for January.
Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.36% rose 0.6%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.31% increased 0.2%, while the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.25% declined 0.2%.
The biggest Stoxx 600 gainer was Arkema /zigman2/quotes/200304947/delayed FR:AKE +1.77% , which rose 6% after the French chemicals company agreed to buy the performance adhesives business of Ashland Global Holdings /zigman2/quotes/200179497/composite ASH -0.63% for $1.65 billion. Arkema says the deal will boost earnings from the first year of integration and will boost its profit margin for 2024.
Prosus /zigman2/quotes/214038022/delayed NL:PRX -2.80% was also up, with the technology investor rising 5% after its deal to buy India’s BillDesk for $4.7 billion. Prosus was also buoyed by a 3% rise in Tencent /zigman2/quotes/204605823/delayed HK:700 -0.88% , in which it has a 29% stake.
The biggest Stoxx 600 faller was International Consolidated Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +0.18% , which fell 3% as the European Union voted to reimpose limitations on U.S. travel to the Continent.