European stocks closed higher on Monday, recouping some of last week’s steep losses, with technology and financial sectors leading the gains.
The pan-European STOXX 600 index closed up 0.93% at 514.79 points, ending a five-day losing streak last seen in October 2023.
Most sector indexes advanced, with technology stocks up 1.8% after their worst weekly decline in more than three years, while some chip stocks recovered from the global sell-off seen last week as investors fretted over the prospect of possible U.S. trade restrictions.
Political uncertainty in the United States, coupled with the sell-off in chip-linked securities, led the benchmark index to post its biggest weekly decline in 2024 last week. The lack of policy guidance from the European Central Bank (ECB) also added to investor concerns.
Bucking the trend, Ryanair fell 17.2% after the airline’s profits nearly halved in the three months to the end of June while ticket prices fell 15% compared to the same period last year.
Ryanair pushed the travel and leisure sector down 2.4%, with the exception of major STOXX sectors.
In LONDON, the Financial Times index rose 0.53% to 8,198.78 points.
In FRANKFURT, the DAX index rose 1.29 percent to 18,407.07 points.
In PARIS, the CAC-40 index gained 1.16% to 7,622.02 points.
In MILAN, the Ftse/Mib index rose by 1.17% to 34,615.05 points.
In MADRID, the Ibex-35 index rose 0.51% to 11,143.80 points.
In LISBON, the PSI20 index appreciated by 0.85%, to 6,860.26 points.
Source: Terra
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