European stocks closed slightly higher on Monday, supported by gains for auto producers and tech companies as markets continued to gauge the European geopolitical landscape for hints on whether the strong momentum for equities can be extended to next year.
The STOXX 50 rose 0.2% to 5,5757 and the pan-European STOXX 600 inched higher to 589. Tech companies led the gains despite broad weakness for their counterparts traded in Wall Street, with ASML and Nokia advancing 1% each. German auto manufacturers were also higher, with BMW and Mercedes Benz adding 1%.
On the other hand, defense stocks retreated sharply after a meeting between US President Trump and Ukrainian counterpart Zelensky drove markets to bet on a higher likelihood of an incoming ceasefire. Rheimetall fell 1%, while Leonardo and Thales dropped 2%.
Source : Trading Economics
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