Major European Markets Close On Firm Note

(RTTNews) - European stocks closed higher on Monday with investors largely making their moves reacting or looking ahead to earnings updates, and digesting some corporate news.

Investors also awaited the European Central Bank's upcoming decision, expecting a 25 bps rate cut later this week.

Data showing much less than expected growth in China's exports and imports in September weighed a bit on sentiment. A much-anticipated Chinese stimulus announcement over the weekend also failed to inspire confidence among investors.

The pan European Stoxx 600 climbed 0.53%. The U.K.'s FTSE 100 gained 0.47%, Germany's DAX ended up 0.69% and France's CAC 40 closed 0.32% up, while Switzerland's SMI advanced 0.86%.

Among other markets in Europe, Belgium, Ireland, Netherlands, Russia, Spain and Sweden ended higher.

Austria, Finland, Greece, Iceland, Poland, Portugal and Turkiye closed weak, while Denmark and Norway ended flat.

Shares of designer goods manufacturers fell as investors remained jittery over anemic China demand for European designer goods.

In the UK market, Vistry Group climbed nearly 4.5%. Bunzl, SSE, BAE Systems and Severn Trent gained 2 to 2.5%, while United Utilities advanced nearly 2%.

Pershing Square Holdings, Sage Group, AstraZeneca, Smiths Group, Coca-Cola HBC, Centrica, EasyJet, Sainsbury (J), Hikma Pharmaceuticals, Diploma, Intertek Group, Compass Group, National Grid and Halma climbed 1 to 1.6%.

Mulberry Group shares jumped over 20% following a revised possible takeover offer from Frasers Group Plc.

Entain tumbled 8% following a report that the Labour government is considering an up to £3 billion tax hit on the gambling sector in this month's Budget. Flutter Entertainment shares ended down by about 6%.

Croda International ended down 2.3%. Antofagasta, Frasers Group, Mondi, Barclays Group and Fresnillo lost 1 to 2%.

In the German market, Rheinmetall climbed more than 2%. Fresenius Medical Care, Infineon, Deutsche Telekom, SAP, Adidas, Deutsche Post and Deutsche Boerse gained 1 to 2%.

Porsche drifted down 1.7% and BASF closed lower by about 1.5%. Volkswagen, Bayer and Vonovia ended moderately lower.

In the French market, Safran, Stellantis, Airbus Group, Thales, Michelin, BNP Paribas, Publicis Groupe and Legrand ended higher by 1 to 2%.

Sanofi ended nearly 100% down. Kering ended lower by nearly 4% and LVMH closed down 2.7%. LVMH, Edenred, Carrefour and Teleperformance lost 1 to 2%.

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