Investing.com – European stocks advanced on Monday, extending gains from Friday’s session, as stocks in the financial and utilities sectors led gains. Meanwhile, U.S. Markets were closed for the Labor Day holiday.
During European afternoon trade, the EURO STOXX 50 advanced 0.28%; France’s CAC 40 increased 0.33%, while Germany's DAX gained 0.27%.
Stocks in the financial sector led gains across European markets, as shares in French banker BNP Paribas advanced 0.95%, stocks in Dutch insurer ING Groep increased 0.96% and Deutsche Bank shares gained 0.58%.
Elsewhere, stocks in French investment bank Natixis soared 6.74%, after reports said the investment bank was to be included in the French benchmark CAC 40 index.
Several utilities stocks also advanced on Monday, after the German government agreed to a two-tier extension of the lifespans of German nuclear power plants on Sunday.
Following the news, shares in German power and gas giant E.On soared 3.27%, stocks in German electricity and gas company RWE jumped 2.86%,
Elsewhere in the utilities sector, French energy firm Veolia Environnement gained 2.28%, after Citigroup upgraded its stock to buy from sell, citing better-than-expected profit estimates.
In London, the commodity heavy FTSE 100 was up 0.36% as miners led gains. Shares in mining giant BHP Billiton gained 0.53%, Rio Tinto stocks increased 0.41%, while British Petroleum jumped 1.41%, after it was reported that the oil giant had revived plans to sell part of its stake in an oil field in Prudhoe Bay, Alaska.
Crude oil prices declined 0.07% to hit USD 74.28 a barrel.
Earlier in the day, market research group, Sentix said its index of investor confidence in the euro zone declined unexpectedly to 7.6 in September, after rising to a revised 8.2 in August.
Any level above 0.0 in the index indicated optamism, below indicates pessimism.
Meanwhile, markets in the U.S. were closed for the Labor Day holiday.
During European afternoon trade, the EURO STOXX 50 advanced 0.28%; France’s CAC 40 increased 0.33%, while Germany's DAX gained 0.27%.
Stocks in the financial sector led gains across European markets, as shares in French banker BNP Paribas advanced 0.95%, stocks in Dutch insurer ING Groep increased 0.96% and Deutsche Bank shares gained 0.58%.
Elsewhere, stocks in French investment bank Natixis soared 6.74%, after reports said the investment bank was to be included in the French benchmark CAC 40 index.
Several utilities stocks also advanced on Monday, after the German government agreed to a two-tier extension of the lifespans of German nuclear power plants on Sunday.
Following the news, shares in German power and gas giant E.On soared 3.27%, stocks in German electricity and gas company RWE jumped 2.86%,
Elsewhere in the utilities sector, French energy firm Veolia Environnement gained 2.28%, after Citigroup upgraded its stock to buy from sell, citing better-than-expected profit estimates.
In London, the commodity heavy FTSE 100 was up 0.36% as miners led gains. Shares in mining giant BHP Billiton gained 0.53%, Rio Tinto stocks increased 0.41%, while British Petroleum jumped 1.41%, after it was reported that the oil giant had revived plans to sell part of its stake in an oil field in Prudhoe Bay, Alaska.
Crude oil prices declined 0.07% to hit USD 74.28 a barrel.
Earlier in the day, market research group, Sentix said its index of investor confidence in the euro zone declined unexpectedly to 7.6 in September, after rising to a revised 8.2 in August.
Any level above 0.0 in the index indicated optamism, below indicates pessimism.
Meanwhile, markets in the U.S. were closed for the Labor Day holiday.