European Stocks Close Broadly Higher

RTTNews | 778天前

(RTTNews) - European stocks closed higher on Monday, led by gains in energy sector. Investors shrugged off data showing a drop in eurozone investors sentiment, and picked up stocks amid hopes the Chinese government will announce more stimulus to boost the economy.

Investors continued to assess the outlook for monetary policies of global central banks, and looked to quarterly earnings updates.

The pan European Stoxx 600 gained 0.18%. The U.K.'s FTSE 100 advanced 0.23%, Germany's DAX and France's CAC 40 both climbed 0.45%, and Switzerland's SMI ended 0.43% up.

Among other markets in Europe, Belgium, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Russia and Turkiye closed higher.

Austria, Czech Republic, Denmark, Finland, Iceland and Sweden ended weak, while Spain settled flat.

Survey results from the behavioural research institute Sentix showed Eurozone investor sentiment declined for the third straight month to hit an eight-month low in July, suggesting that the region remained in a recessionary mode and the situation is more severe than the usual summer lull.

The Sentix economic index posted -22.5 in July, which was the lowest since November 2022, when euro area was facing acute energy crisis. The reading was forecast to fall to -17.9 from -17.0 in June.

Both the current situation and expectation measures of the survey reached the lowest since November 2022.

The current situation index declined to -20.5 in July from -15.8 in the previous month. The expectations index registered -24.5, down from -18.3 in June.

In the UK market, Flutter Entertainment rallied 3.2%. Ashtead Group, Persimmon, Admiral Group, IAG, Severn Trent, IMI, Hiscox, Schrodders, IHG, Weir Group, Unite Group, Airtel Africa, BAE Systems and Shell gained 1 to 2.2%.

Shares of Future Plc, a specialist media company, soared more than 6%, after the company announced a 45-million-pound share buyback.

Ocado Group drifted down 1.76%. National Grid, Land Securities, Sainsbury (J) and Rio Tinto lost 0.9 to 1.1%. Standard Chartered, Glencore and Rightmove also ended notably lower.

In the German market, MTU Aero Engines, Commerzbank, Deutsche Bank, Bayer, Infineon and Siemens Energy gained 1.4 to 2%. Brenntag and Siemens both ended higher by about 1.25%.

Continental, RWE, E.ON, Covestro, Sartorius and BASF lost 0.6 to 1.2%.

In Paris, Safran, Saint Gobain, Alstom, L'Oreal, Schneider Electric, Carrefour, Hermes International, Air Liquide, Airbus and STMicroElectronics gained 0.7 to 1.5%.

Engie and WorldLine both shed about 1.25%. Vivendi, Teleperformance, Unibail Rodamco and ArcelorMittal also ended weak.

Beter Bed Holding N.V. soared 95.25% after the Dutch company accepted a bid from Torqx Capital Partners, which values the firm at 168 million euros.

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