European stock markets closed higher on Monday despite ongoing volatility in the Middle East, with investors monitoring economic data from Germany and U.S. market action.
The pan-European Stoxx 600 ended 0.4% higher, with most sectors in the green as healthcare stocks led gains.
The index is on course for a 4.6% monthly fall, according to LSEG data, amid lacklustre earnings and concerns over higher-for-longer interest rates.
EUROPEAN MARKETS
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 7327.39 | 36.11 | 0.5 |
| .GDAXI | DAX | 14716.54 | 0 | 0 |
| .FCHI | CAC 40 Index | 6825.07 | 0 | 0 |
| .FTMIB | FTSE MIB | 27339.91 | 52.46 | 0.19 |
| .IBEX | IBEX 35 Idx | 9013.9 | 0 | 0 |
Overnight, HSBC reported a huge 235% rise in profit after tax to $6.26 billion in the third quarter, which was nonetheless lower than expectations. Europe’s largest bank by assets also announced an additional share buyback of up to $3 billion. London-listed shares opened 0.8% higher.
Meanwhile, German gross domestic product recorded a 0.1% quarterly fall, slightly better than the 0.3% decline forecast in a Reuters poll of economists.
The economy shrank 0.8% on a price-adjusted basis versus the third quarter of 2022.
GDP for the second quarter was revised up from stagnation to 0.1% growth.
Asia-Pacific markets started the week mixed ahead of key economic data releases from around the region.
U.S. stocks were higher on a big week that will include the Federal Reserve’s rate decision, a jobs report and Apple’s earnings report.
Source : CNBC
