Salem Radio Network News Monday, September 26, 2022

Business

European shares open higher; Aegon leads gains among insurers

(Reuters) – European shares opened higher on Thursday to extend gains from the previous session after data showed signs of U.S. inflation cooling, while Dutch insurer Aegon climbed after raising its full-year forecast.

The pan-European STOXX 600 index rose 0.4%, after clocking its best session in nearly two weeks on Wednesday on bets that the inflation reading will encourage the Federal Reserve to become less aggressive on interest rates hikes.

Aegon jumped 7.5%, to the top of the STOXX 600, as it raised its forecasts for full-year operating capital generation and 2021-2023 free cash flow.

The European insurance sector index was up 0.8% in early trading, and was among the top gainers.

Zurich Insurance Group also added 1.3% as it reported a better-than-expected rise in operating profit in the first half.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)

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