Stoxx 600 Climbs 0.65 Percent as Ukraine-Russia Energy Deal Eases Fears
(MENAFN) European equities finished Monday’s session in positive territory after word of a deal between Ukraine and Russia on energy infrastructure eased worries about supply.
Sentiment also got a lift from a pact between the EU and China on hybrid vehicle import quotas, along with a modest dip in bond yields.
The pan-European Stoxx Europe 600 gained 0.65% to close at 635.65 points, and the eurozone’s Euro Stoxx 50 added 0.45% to reach 6,201.21.
Among national benchmarks, Germany’s DAX 40 rose 0.76% to 25,277.68, while Britain’s FTSE 100 led with a 0.99% climb to 10,656.28. France’s CAC 40 edged up 0.38% to 7,832.88, and Italy’s FTSE MIB advanced 0.58% to 50,035.
German defense names stood out, with Rheinmetall surging 2.5% to top the DAX.
Volkswagen shares rose 0.6%, even though the automaker disclosed that third-quarter global deliveries dropped 14.3% from a year earlier to 1.89 million vehicles. The stock drew support from cooling trade friction after the EU and China settled on an annual quota of 350,000 imported hybrid vehicles.
Still, gains were capped as Brent crude jumped about 2% intraday to near $107 a barrel and bond-market moves weighed on stocks.
Elsewhere, the annual meetings of the International Monetary Fund and the World Bank opened in Bangkok, Thailand. IMF Managing Director Kristalina Georgieva said the global economy should keep expanding at roughly 3%, underpinned by investment in artificial intelligence. The fund is set to publish revised global growth forecasts Tuesday.
Attention is now turning to third-quarter results Tuesday from major US lenders, including JPMorgan, Goldman Sachs, Citigroup and Wells Fargo.
In currency markets, the euro slipped 0.39% against the dollar to 1.116 as European trading ended.
Sentiment also got a lift from a pact between the EU and China on hybrid vehicle import quotas, along with a modest dip in bond yields.
The pan-European Stoxx Europe 600 gained 0.65% to close at 635.65 points, and the eurozone’s Euro Stoxx 50 added 0.45% to reach 6,201.21.
Among national benchmarks, Germany’s DAX 40 rose 0.76% to 25,277.68, while Britain’s FTSE 100 led with a 0.99% climb to 10,656.28. France’s CAC 40 edged up 0.38% to 7,832.88, and Italy’s FTSE MIB advanced 0.58% to 50,035.
German defense names stood out, with Rheinmetall surging 2.5% to top the DAX.
Volkswagen shares rose 0.6%, even though the automaker disclosed that third-quarter global deliveries dropped 14.3% from a year earlier to 1.89 million vehicles. The stock drew support from cooling trade friction after the EU and China settled on an annual quota of 350,000 imported hybrid vehicles.
Still, gains were capped as Brent crude jumped about 2% intraday to near $107 a barrel and bond-market moves weighed on stocks.
Elsewhere, the annual meetings of the International Monetary Fund and the World Bank opened in Bangkok, Thailand. IMF Managing Director Kristalina Georgieva said the global economy should keep expanding at roughly 3%, underpinned by investment in artificial intelligence. The fund is set to publish revised global growth forecasts Tuesday.
Attention is now turning to third-quarter results Tuesday from major US lenders, including JPMorgan, Goldman Sachs, Citigroup and Wells Fargo.
In currency markets, the euro slipped 0.39% against the dollar to 1.116 as European trading ended.
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