European Stocks Rebound
European stocks closed firmly higher on Monday, rebounding from the sharp selling pressure last week as markets reconsidered the impact that tariffs will have on growth this year.
The Eurozone's STOXX 50 jumped by 1.5% to 5,242 and the pan-European STOXX 600 rose a softer 0.8% to 540, weighed by underperformances in Switzerland due to the increase in US tariffs against the country. Banks and insurers led the gains in the session, coinciding with the strong performances in domestic bonds and the narrowing of their spreads.
UniCredit, Santander, Intesa Sanpaolo, BBVA, and Allianz added between 4.5% and 3.2%. Industrial giants also recorded gains following the pressure from last week, with Safran and Schneider Electric adding over 2%. Outside the Eurozone, British banks surged after winning a reprieve in an auto financing case.
On the other hand, Swiss stocks closed lower on average as policymakers started negotiations with US counterparts for more favorable trade terms.
Source : Trading Economics
