European stocks touch two-week highs

European stocks rose to their highest level in two weeks on Monday, continuing the strong gains they achieved last week, as traders awaited economic data and the Federal Reserve’s (US central bank) decision on monetary policy.

According to Reuters, by 0718 GMT, the European STOXX 600 index rose 0.3% after recording its first weekly gain in 4 weeks on Friday.

The basic resources sector led the sectors’ gains, with Anglo American shares rising 2.3%, while Atos shares jumped 12.6% after the French government made an offer to buy some of its main units.

Deutsche Bank shares fell by about 4%, as the German bank will implement a court ruling regarding a lawsuit related to its acquisition of Postbank, which will hurt its profits in the second quarter and the entire year.

Traders are awaiting inflation data in the euro zone and the Federal Reserve’s upcoming interest rate decision in search of indicators about global monetary policy expectations.

Traders are also awaiting the final decision of Spanish Prime Minister Pedro Sanchez on whether he will continue in his position or step down.