The key facts

  • STOXX Europe 600 rose 1.26% to 656.52; FTSE MIB gained 2.69%
  • Semiconductor companies rebounded: ASML +4.7%, Soitec +5.9%
  • Brent fell 4.88% to $93.52 amid hopes for progress in the conflict surrounding Iran

Rebound after the sell-off

European stock markets closed higher on Monday: a recovery in technology shares and falling oil prices lifted investor sentiment after last week's sell-off. The pan-European STOXX Europe 600 gained 1.26%, or 8.19 points, to 656.52. Among the major regional markets, Italy's FTSE MIB led the way, rising 2.69% to 51,399.88, while Spain's IBEX 35 climbed 1.93% to 19,742.50. This was reported by Anadolu.

Who gained and why

Germany's DAX added 1.73% to 26,267.19, France's CAC 40 rose 1.16% to 8,233.30, and the UK's FTSE 100 gained 1.02% to 10,782.87. The main beneficiaries were semiconductor companies: ASML rose 4.7%, ASM International 3.4%, and Soitec 5.9%. The recovery came after a sharp drop last week, when investors reassessed their artificial intelligence investments: concerns about high capital spending and possible regulatory changes following the Democrats' victory in the US midterm elections weighed on the market. On Friday, the DAX lost 1.92%, and the British and French benchmarks also declined.

Oil and the week's expectations

Oil fell sharply on Monday, easing concerns about energy costs: Brent futures traded at $93.52 per barrel (down 4.88%), while US WTI stood at $87.53 (down 3.63%). The outlet notes that these are intraday prices, not final settlement prices. The drop in quotes coincided with growing hopes for progress in resolving the conflict surrounding Iran, which eased fears of energy supply disruptions in the Strait of Hormuz area. In the coming days, investors will be watching US inflation data and eurozone growth statistics as signals about interest rates and the state of the economy.