European stocks closed higher on Monday, with the Stoxx 50 rising 1% and the broader Stoxx 600 gaining 0.5%, driven by strong performances from major corporates.
Novo Nordisk climbed 1.9%, LVMH gained 2.6%, SAP rose 1.8%, ASML Holding advanced 1%, and Hermes International surged 4.5%. However, Stellantis shares dropped 6.3% following CEO Carlos Tavares' resignation, citing differences with the board amid struggles in the US market.
Investor sentiment was clouded by political uncertainty in France, with ongoing budget tensions raising concerns about a potential no-confidence vote. Economic data pointed to a slowdown in manufacturing activity in both the Eurozone and the UK, while the EU's unemployment rate remained stable.
Source : Trading Economics
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