European Markets Close Monday in Green
(MENAFN) European stock markets concluded the week's initial trading session with solid gains, as investors turned their attention toward a key political development in France. The pan-European Stoxx 600 index climbed by 0.52%, or 2.83 points, ending the day at 552.04.
The rally was widespread across the continent, with key national benchmarks also posting increases. Germany's DAX 40 index advanced 0.89% to finish at 23,807.13 points, and the UK's FTSE 100 gained 0.14% to close at 9,221.44 points. France's CAC 40 rose by 0.78% to 7,734.84, while Italy's FTSE MIB index added 0.28% to end at 41,723.69 points. Spain's IBEX 35 index saw the most significant rise, climbing 1.02% to close the midweek at 15,002.2 points.
The market's focus was heavily influenced by the impending vote of confidence in the French parliament, a measure called by French Prime Minister Francois Bayrou. He announced his intention to seek the vote ahead of the 2026 budget, which proposes approximately €43 billion (about $50.5 billion) in public spending cuts and the elimination of certain public holidays.
In currency markets, the euro strengthened against the dollar, with the euro/dollar parity increasing by 0.18% to 1.1740 as of 1638GMT.
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