European stocks had a strong start to the week, with the Stoxx 50 and Stoxx 600 both rising over 1% as investors considered the potential market impact of Donald Trump's presidency.
The construction and materials sector led gains, climbing 2%, while industrial stocks increased by 1.7%. On the corporate side, Continental's shares surged 10% after posting better-than-expected profits. Defence stocks, including Sweden's SAAB, Italy's Leonardo, and the UK's Rolls-Royce, rose between 3% and 4.4%. MTU Aero Engines gained 1% after an upgrade from Goldman Sachs.
The chemicals sector was up 1.3%, driven by a 5.4% increase in Croda shares following strong Q3 sales. Insurance stocks also saw gains of 1.2%, with Hannover Rueck up 3.3% after raising its 2024 profit outlook, citing good business performance and a positive tax impact.
Source : Trading Economics
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