European Stocks Close Higher
European stocks closed higher for a second session on Monday, tracking the positive momentum for most sectors in US equity markets on upbeat earnings projections. The Euro STOXX 50 added 0.4% to 6,169 and the STOXX Europe 600 gained 0.6% to 635. Sell-side firms signaled that global earnings growth is expected to remain robust ahead of the incoming results-sharing season, supporting most sectors despite the elevated yields backdrop. LVMH added 1.2% before releasing its third-quarter revenues, while Hermes rose over 2% to consolidate a strong session for luxury brands. Meanwhile, banks enjoyed some respite with Santander, BBVA, and ING adding close to 2%. On the other hand, ASML fell 1.5% amid a broad pullback for companies in AI infrastructure. The Eurozone's largest economy is due to report results this week.
European stocks closed higher for a second session on Monday, tracking the positive momentum for most sectors in US equity markets on upbeat earnings projections. 6% to 635. Sell-side firms signaled that global earnings growth is expected to remain robust ahead of the incoming results-sharing season, supporting most sectors despite the elevated yields backdrop. 2% before releasing its third-quarter revenues, while Hermes rose over 2% to consolidate a strong session for luxury brands.
Meanwhile, banks enjoyed some respite with Santander, BBVA, and ING adding close to 2%. 5% amid a broad pullback for companies in AI infrastructure. The Eurozone's largest economy is due to report results this week.