The STOXX 50 jumped 1.4% to close at a record high of 5,688 on Monday, while the broader STOXX 600 gained 1.1% to 572 amid easing concerns over US banking stability and signs of easing trade tensions between Washington and Beijing after President Trump indicated he would lower tariffs if China resumed purchases of US soybeans.
Financial stocks posted significant gains, with BBVA up 3.9%, UniCredit 3%, and Intesa Sanpaolo 2.8%. Conversely, BNP Paribas plunged 7.7% after a US jury ordered it to pay $20.75 million over alleged links to Sudanese atrocities. The defense sector also posted strong performance amid renewed geopolitical instability.
Rheinmetall rose 6.1% as fighting in Gaza intensified and the war in Ukraine showed no signs of ending. In the consumer sector, L'Oréal rose 1% after reaching a €4 billion deal to acquire Kering's beauty division, strengthening its position in the luxury cosmetics market. (alg)
Source: Trading Economics
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