European Markets Rally: Tech and Bank Stocks Boost
European shares gained traction on Monday, led by technology and bank stocks, amid anticipation of U.S. trade announcements. The STOXX 600 index rose 0.4%, despite last week's setback. Key indices across Germany, France, and Spain also saw increases, driven by notable performances in the tech and finance sectors.
European shares made a positive start to the week, buoyed by gains in technology and bank stocks, as investors closely monitor trade developments ahead of President Donald Trump's tariff deadline.
The pan-European STOXX 600 index climbed 0.4%, recovering from last week's losses. Germany's DAX outperformed with a 1.2% rise, while France's CAC 40 and Spain's IBEX recorded modest gains. The UK's FTSE 100 lagged due to a sharp drop in Shell's shares.
Trade sentiment remained uncertain, with the European Union aiming for a deal by July 9 following positive talks between Ursula von der Leyen and Trump. Technology stocks notably bolstered the STOXX, as Germany's SAP and ASML saw significant gains, reflecting optimistic investor sentiment in the euro zone.
(With inputs from agencies.)
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