Stoxx 600 Closes Higher as European Markets React Positively to New Trading Week

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%.

London Stock Exchange (Credits: Bloomberg/Getty Images)

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.

In the U.S., stocks were up on Monday as Wall Street aimed to stabilize following a significant sell-off in tech companies.

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.

Josh Alba
Josh Alba
Josh Alba stands at the forefront of contemporary business journalism, his words weaving narratives that illuminate the intricate workings of the corporate world. With a keen eye for detail and a penchant for uncovering the underlying stories behind financial trends, Josh has established himself as a trusted authority in business writing. Drawing from his wealth of experience and relentless pursuit of truth, Josh delivers insights that resonate with readers across industries.
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