European stocks open Q4 with modest gains

European stocks began the last quarter of 2023 with modest gains on Monday after the United States avoided entering into a government shutdown, while investors awaited factory activity data to obtain indicators about the performance of companies in the euro zone.

According to Reuters, the European Stoxx 600 index rose 0.4% by 0717 GMT, after ending the third quarter down about 2.5% on Friday.

Futures jumped on Wall Street after the US Congress passed a temporary financing bill late on Saturday, averting the fourth partial shutdown of the federal government in a decade.

Investors are awaiting industrial activity data in the euro zone expected on Monday

Vivendi shares rose 3.3 percent after Barclays Bank raised its recommendation for the French media company’s stock to be worth higher than its current value.

BAE Systems shares rose 2.1% after Britain and the Defense Industries Company concluded a contract worth 4 billion pounds ($4.89 billion) within the framework of the OKOS security program with Australia and the United States to manufacture attack submarines.