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Stocks: Monday's review
European stocks gained on their first trading day this year as a measure of German manufacturing beat estimates and a gauge of utilities rose.
A measure of German manufacturing climbed to 48.4 in December, beating the median economist estimate for a reading of 48.1.
A report this week will probably show that hiring in the U.S. accelerated in December for a second month, a sign that the country’s improving labor market will bolster consumer spending in early 2012, economists said. Payrolls climbed by 150,000 workers after rising 120,000 in November, according to the median forecast of economists in a survey before the Labor Department release on Jan. 6.
Siemens added 2.1%. A gauge of chemical makers increased 1.7%, with the preferred shares of Henkel AG increasing 3%.
ThyssenKrupp AG jumped 4.2%.
Sunways AG surged 22% as China’s LDK Solar Co. said it intends to take over the company. Sunways said LDK will buy a 33 percent stake and has offered to purchase the remaining equity for 1.90 euro per share.
Carmakers rose. Daimler AG increased 4.3%.
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