Thursday, 25 July 2024

European stocks open higher, supported by technology and banking sectors

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European stocks rose on Monday, June 17, with the banking sector recovering some of the losses incurred last week, while Topdanmark shares jumped in the wake of news of the insurance company Sambo’s offer to buy all the shares of its competitor.

The European STOXX 600 index rose 0.4%, recovering from the worst weekly percentage decline so far this year.

The technology index led sector gains, rising 1.2%, while the European banking sector advanced more than 1%.

European stocks came under pressure last week after President Emmanuel Macron called for early legislative elections after the harsh defeat suffered by his centrist party at the hands of Marine Le Pen’s National Rally party in the European Parliament elections.

The French CAC 40 index rose 0.6% in early trading after falling more than 6% last week.

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