The Stoxx 50 and Stoxx 600 edged up on Monday, as investors prepared for a week of key developments, including the ECB's anticipated 25-basis-point rate cut on Thursday, its fourth this year.
Markets are keen for hints on whether the ECB might accelerate rate cuts to aid Europe's struggling economy. Sentiment was further lifted by China's pledge to implement "moderately loose" monetary policies and "more proactive" fiscal measures, fueling hopes of increased domestic consumption and benefiting European luxury stocks like Kering, which jumped up to 4%. Volkswagen rose over 1% amid ongoing strikes, with workers escalating walkouts to four-hour shifts as negotiations over wages and potential plant closures dragged into a fourth round.
Union IG Metall warned of further action if Volkswagen management fails to address worker demands, following earlier unsuccessful talks where the company rejected a union counterproposal.
Source: Trading Economics
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