European Shares Climb As US Senate Approves Deal To End Government Shutdown
(RTTNews) - European stocks hit a two-week high on Tuesday after the U.S. Senate passed a short-term funding bill to end the longest government shutdown in U.S, history. The bill will now be sent to the House, where a vote could come as early as Wednesday.
U.K. stocks outperformed as the British pound slumped on rate cut hopes after the release of weak labor market data.
The unemployment rate rose to 5 percent and wage growth slowed in the three months to September, strengthening the case for the Bank of England to cut interest rates next month.
The pan-European Stoxx 600 jumped 0.6 percent to 576.35 after gaining 1.4 percent on Monday.
The German DAX edged up by 0.2 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 rallied 1 percent.
Deutsche Wohnen shares rose 1.4 percent. The German real estate firm reported a profit in the first nine months of fiscal 2025, compared to prior year's loss.
Reinsurer Munich Re dropped nearly 2 percent after confirming its annual guidance of €6 billion for the 2025 financial year.
HelloFresh shed 1 percent. The company firmly rejected the arguments and alleged findings regarding its current performance, governance, and business outlook in the Grizzly Research report.
U.K.'s scientific tools maker Oxford Instruments surged 9 percent after order momentum returned in the second quarter.
Vodafone jumped 6 percent as the broadband and mobile operator announced the repurchase of 6,514,459 shares from Goldman Sachs as part of efforts to enhance shareholder value.
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