European stocks rise ahead of earnings announcements from ‎more large US banks

European stocks rose today, Monday, as investors expected that large US banks will continue to announce strong quarterly results this week, while also looking for the Federal Reserve (the US central bank) to end the cycle of raising interest rates.

According to “Reuters”, the European Stoxx 600 index rose 0.3 percent after last week hitting its highest level in more than a year, and the STOXX 50 blue-chip index reached its peak in 22 years.

The mining sector topped the gainers, rising 1.6 percent, while technology stocks fell 0.6 percent.

Investors will closely monitor the issuance of a group of earnings reports, led by those of Goldman Sachs, Morgan Stanley and Bank of America, later on Monday.

Profits from Citigroup, JP Morgan and Wells Fargo exceeded expectations last week, benefiting from higher interest rates and calming fears that the banking system was under pressure.

Investors are also awaiting the statements of European Central Bank officials, led by its president, Christine Lagarde

Rovio shares rose 17.8 percent after Japan’s Sega agreed to submit an offer of 706 million euros to buy the video game company.