European markets experienced a modest uptick on Monday, building on the generally positive sentiment observed last week.
The pan-European Stoxx 600 index closed marginally higher, marking a 0.17% increase, after recovering from a negative start to the morning session. Notably, mining stocks saw a decline of 1%, while healthcare stocks demonstrated resilience, posting a 0.95% gain.
Swiss software company Temenos witnessed a notable rebound, with its shares rising by 8.8% during Monday’s trading session. This recovery follows significant losses incurred at the end of last week, prompted by a critical report from short-seller Hindenburg Research.
In the Asia-Pacific region, Chinese stock markets saw an upward trajectory as traders returned from the Lunar New Year holidays on Monday. The positive momentum was buoyed by encouraging travel data. However, Hong Kong stocks experienced a downturn.
On Sunday, the People’s Bank of China maintained a key policy rate at its expected level, prompting market participants to reassess the timeline for potential shifts in the U.S. Federal Reserve’s monetary policy later in the year.
Meanwhile, U.S. markets remained closed on Monday in observance of Presidents Day.
Providing an update on the European market close two hours ago, the Stoxx 600 index continued its upward trend, registering a 0.17% gain. The FTSE 100 in the U.K. saw a rise of 0.22%, while France’s CAC 40 remained unchanged and Germany’s DAX experienced a slight decline of 0.15%.
