European stocks rise, led by energy sector, and renewed hopes for a rate cut

European stocks opened higher on Monday as optimism returned among investors about lowering global interest rates, while the shares of the Spanish engineering technology company Indra jumped after achieving strong profits in the first quarter.

According to Reuters, the European Stoxx 600 index rose 0.2% by 0720 GMT, led by energy sector stocks that rose amid an increase in oil prices after Saudi Arabia raised crude selling prices for June for most regions and in light of slim prospects for reaching a ceasefire agreement in Gaza.

Stock markets are closed in Britain in conjunction with a bank holiday.

Indra’s shares jumped 8.5% after the company’s net profits in the first quarter rose by about 40%, supported by strong orders for air defense technology reinforced by global tensions.

The shares of the debt-laden French information technology company Atos gained 4% after announcing four distinct offers from investors to restructure debts and inject money into the company.

The shares of the Dutch postal company (Post NL) fell by about 3.5% after a larger-than-expected loss in the first quarter, and the shares of the giant German logistics company (Deutsche Post AG) fell by nearly 4%.

A media report showed that the chief economist at the European Central Bank, Philip Lane, indicated that there was a stronger justification for cutting interest rates in June as a result of the decline in the pace of inflation in the services sector, while the jobs report in the United States, which was issued on Friday and was weaker than expected, renewed bets that… The Federal Reserve (US central bank) will likely lower interest rates this year.