European Stocks Kick Off the Week Higher
European stocks traded higher on Monday, with both the STOXX 50 and STOXX 600 gaining around 0.3%, as investors attempted to shrug off another rise in oil prices after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz. Luxury stocks were among the gainers, with LVMH rising 0.9% and Hermes adding 1.6%. Energy stocks also moved higher, led by Shell (+0.9%), BP (+0.8%) and TotalEnergies (+0.7%). Anheuser-Busch InBev (+1.6%), L’Oreal (+1.7%) and EssilorLuxottica (+2.3%) also posted solid gains. Taylor Wimpey was among the STOXX 600’s top performers, surging more than 14% as British housebuilders rallied after the UK government said it would confirm a new equity loan programme for first-time buyers in next month’s budget. On the downside, ASML Holding fell 1.2%, Siemens Energy declined 1.5% and Telecom Italia dropped 2.5%. Fresnillo fell more than 5%, making it the STOXX 600’s biggest decliner, as lower gold prices weighed on precious-metals miners.
3%, as investors attempted to shrug off another rise in oil prices after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz. 6%. 7%). 3%) also posted solid gains.
Taylor Wimpey was among the STOXX 600’s top performers, surging more than 14% as British housebuilders rallied after the UK government said it would confirm a new equity loan programme for first-time buyers in next month’s budget. 5%. Fresnillo fell more than 5%, making it the STOXX 600’s biggest decliner, as lower gold prices weighed on precious-metals miners.