European markets kicked off the new trading week positively, marking a shift from the uncertain sentiment seen last week and a recalibration of interest rate expectations.
The pan-European benchmark Stoxx 600 index provisionally closed 0.6% higher, with most sectors trading in positive territory. Telecoms stocks led gains, up 2.1%, while autos declined by 0.8%.
The U.K.’s FTSE 100 recorded its fourth consecutive daily gain on Monday, rising by 1.6% to close at 8023.87 points, surpassing its previous record set on February 20, 2023.
U.K. stocks benefited from a decline in sterling against the U.S. dollar as investors increased bets on a summer interest rate cut from the Bank of England.
Meanwhile, Asia-Pacific markets rebounded from Friday’s sell-off as investors awaited fresh data releases from China, Japan, and South Korea this week.
The region experienced a downturn last Friday after Israel conducted a strike on Iran, leading to a decline in stocks and an increase in demand for safe-haven assets.
