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European Shares Surge With Tech Stocks In Focus
(RTTNews) - European stocks rose sharply on Monday following the U.S. decision to grant tariff exclusions on smartphones, computers, and other electronics—many of which are imported from China.
The pan-European STOXX 600 jumped 2.1 percent to 497 after finishing marginally lower on Friday.
The German DAX climbed 2.5 percent, France's CAC 40 added 2.1 percent and the U.K.'s FTSE 100 was up 1.9 percent.
Tech stocks surged, with Dassault Systemes, ASM International, Infineon Technologies, ASML Holding and Logitech climbing 3-7 percent.
German steel producer Salzgitter AG tumbled 3.3 percent after it has ended talks with a bidding consortium on a possible takeover.
Vallourec SA soared 5.3 percent. The French manufacturer of tubular solutions said it has entered into negotiations with Aldebaran Capital Partners for the sale of its welding solutions unit Serimax for an enterprise value of 79 million euros.
Emerging markets-focused asset manager Ashmore Group plunged 6 percent after announcing disappointing third-quarter results.
China-related luxury giant LVMH rose over 1 percent ahead of its earnings release later in the day.
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