European stocks closed slightly higher on Monday, with banking and technology stocks recovering from last week’s losses after markets were spooked by political uncertainty in France.
The STOXX 600 index rose 0.09% to 511.49 points after its worst weekly percentage decline recorded this year.
Banks rose nearly 1% after falling more than 8% last week, while technology stocks posted a 0.6% gain, recovering from a nearly 2% decline last week.
European markets came under pressure after French President Emmanuel Macron called early elections following the defeat of his ruling centrist party, with the campaign starting on Monday.
“There is still little certain information on the voting intentions and platforms of parties and coalitions,” Société Générale strategists said in a note.
“Until there is greater clarity, especially regarding the tax and spending plans of different parties, uncertainty is likely to persist.”
IN LONDON the Financial Times index fell by 0.06%, to 8,142.15 points.
IN FRANKFURT the DAX index rose by 0.37%, to 18,068.21 points.
IN PARIS, the CAC-40 index gained 0.91%, to 7,571.57 points.
IN MILAN the Ftse/Mib index grew by 0.74%, to 32,908.05 points.
In MADRID, the Ibex-35 index recorded a decline of 0.30%, to 10,959.50 points.
IN LISBON, the PSI20 index depreciated by 0.28%, to 6,519.97 points.
Source: Terra
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