STOXX 600 rises 0.7% as tech leads, oil and gas slips
Europe’s STOXX 600 is up 0.7%; DAX +0.8%, CAC +0.6% and FTSE +0.4%. European tech shares gain 1.7%, while oil and gas stocks fall 0.6% as Brent crude futures are down 2.1% to $101.65/bbl.
7%, as oil prices extended their declines for a fourth consecutive session, providing some relief on inflationary pressures. Sentiment was also supported by expectations surrounding this week’s summit between US President Trump and Chinese President Xi Jinping, with the US describing its talks with China ahead of the meeting as “very successful”. Investors were also digesting the results of state elections in Germany. The CDU recorded a very low vote share, adding further pressure on Chancellor Merz.
8%. 6%, making it one of the top performers on the STOXX 600, after the bank raised its profitability target.