Source: Sharecast
The pan-regional Stoxx 600 index finished the day 0.13% higher at 541.40 with all major bourses in the green. Sentiment was also boosted by a survey that showed business activity in the eurozone grew at a slightly faster pace in July than the previous month, although demand dipped.
The HCOB Eurozone composite purchasing managers index rose slightly to 50.9 in July from 50.6 in June, just under a flash estimate of 51.0.
“US markets put last week in the rearview mirror. Stocks surged across the board with encouraging breadth as investors dived back in,” said Hargreaves Lansdown analyst Matt Britzman.
“Friday’s soft jobs report has reignited the argument that the Fed should be cutting, and markets are now almost certain of a cut in September, putting the odds at 94%. The potential for rate cuts, alongside a strong earnings season, is proving enough of a cocktail to keep the fire lit under US stocks.”
In equity news, UK consumer group Smith & Nephew led the gainers with a 12% jump after reporting earnings. Miner Fresnillo and drinks maker Diageo also gained after results.
DHL was higher as the German logistics giant reported forecast-beating second-quarter profits. Compatriot fashion house Hugo Boss jumped as cost cuts helped produce a better-than-expected operating profit for the quarter.
Shares in Buzzi fell sharply after the Italian construction group lowered its 2025 guidance.
Reporting by Frank Prenesti for Sharecast.com
