BA Boeing Co

By Caitlin Ostroff 

Global stocks edged higher Monday as investors awaited fresh developments on the U.K.'s divorce from the European Union and trade talks between China and the U.S.

Futures linked to the S&P 500 index ticked up 0.2% ahead of more corporate results this week. So far, third-quarter earnings have beaten analysts' expectations, despite the slowing global economy.

Shares in Boeing Co. declined 2% premarket trading after The Wall Street Journal reported that the U.S. Congress is ramping up scrutiny of the plane maker's leaders as new details pointed to undue management pressure on employees.

In the U.K., the British pound was mostly flat against the dollar after a critical vote on Prime Minister Boris Johnson's Brexit deal was delayed, though it ticked past the psychological barrier of $1.30. The U.K.'s FTSE 100, which tracks companies with large overseas earnings that benefit from sterling's decline, edged up 0.2%.

"We're going to have that kind of ebbing and flowing," said David Madden, market analyst at CMC Markets. "It's just going to be hanging around to find out what's happening."

Optimism that Mr. Johnson will secure lawmakers' backing for his deal boosted European bonds yield, with the rate on the 10-year U.K. gilt rising to 0.754% from 0.711% Friday afternoon and the 10-year German bund yielding minus 0.348%, up from minus 0.379% at the end of last week. The 10-year Italian bond climbed to 0.993% from 0.926%. Yields rise when prices fall.

The pan-continental Stoxx Europe 600 index rose 0.4%, led by banks and the automotive sector.

In European equity markets, U.K. medical-equipment company Smith & Nephew fell 8.2% after its chief executive said he would step down at the end of the month.

Wirecard rose 7% in German trading after the electronics payment company said it commissioned an auditing firm to look into allegations made in a report in the Financial Times about its accounting practices.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com

(END) Dow Jones Newswires

October 21, 2019 07:39 ET (11:39 GMT)

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