European Stocks Close Higher As Investors Await Earnings, ECB Policy Move

(RTTNews) - European stocks closed higher on Monday with investors indulging in some buying ahead of some crucial economic data from the region, and awaiting the European Central Bank's monetary policy announcement due later in the week.

The ECB is widely expected to maintain interest rates at their current record-high levels. The bank's statement is in focus for clues about the timing of interest rate cuts.

The pan European Stoxx 600 climbed 0.77%. The U.K.'s FTSE 100 gained 0.35%, Germany's DAX ended stronger by 0.77% and France's CAC 40 ended 0.56% up, while Switzerland's SMI advanced 1.12%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Iceland, Netherlands, Portugal, Spain and Sweden ended with sharp to moderate gains.

Poland, Russia and Turkiye edged up marginally. Denmark and Norway ended flat.

Shares from technology and insurance sectors were among the prominent gainers.

In the UK market, Entain, JD Sports Fashion, Auto Trader Group, Barratt Developments, Barclays, St. James's Place, Natwest Group, Segro, Taylor Wimpey, DCC, Berkeley Holdings, Howden Joinery, Pearson, RightMove and Lloyds Banking Group gained 2 to 4%.

Glencore and Endeavour Mining lost 3.3% and 3%, respectively. Rio Tinto, Anglo American Plc, Haleon, Antofagasta Group and Smurfit Kappa Group ended down 1 to 2%.

In the German market, Zalando rallied more than 4%. Fresenius Medical Care climbed nearly 2%. Hannover Rueck, Siemens, Bayer, HeidelbergCement, Daimler Truck Holding, BMW, Infineon, Merck, Siemens Energy, Deutsche Post and Munich RE gained 1 to 1.6%.

Commerzbank drifted down nearly 4%. Porsche and and RWE both shed about 1.7%, while Siemens Healthineers and Henkel lost 1% and 0.9%, respectively.

In Paris, Alstom surged nearly 4.5%. Capgemini gained about 2.7%, while STMicroElectronics, Carrefour, Dassault Systemes, Veolia, ArcelorMittal, Publicis Groupe, Legrand, Bouygues, Edenred, Renault, BNP Paribas, Safran and Thales gained 1.2 to 2.5%.

In the Swiss market, Sandoz gained more than 4% the company announced a deal to acquire the U.S. biosimilar ranibizumab CIMERLI from Coherus BioSciences, Inc. for an upfront cash purchase payment of $170 million.