European stocks rise near 6-week high, HSBC logs strong profits

Economies.com
2021-10-25 11:45AM UTC

European stocks rose on Monday, extending gains for gains for the second straight session, rising near a 6-week high thanks to improved sentiment after the release of upbeat Q3 earning reports by major European banks.

 

The Stoxx Europe 600 index rose 0.1% as of 11:25 GMT, after closing higher by 0.5% on Friday, and hit the highest since September 7 of 473.32 points.

 

The pan European index gained 0.5% last week, the third straight weekly gain, thanks to record gains in Wall Street.

 

The mining sector saw the largest gains in Europe today, with a rise of more than 1.1%, as most dollar-denominated metal prices rose.

 

HSBC stock rose more than 1.0%, after the bank reported profits that topped analysts' expectations during the third quarter, which jumped 75.8% compared to the same period last year at $5.4 billion.

 

S&P 500 futures rose 0.3% today, after the index closed lower by 0.1% on Friday, on profit-taking from a record high 4,559.67.

 

Back to Europe, the Euro Stoxx 50 index rose 0.1%, France's CAC 40 rose less than 0.1%, Germany's DAX index rose 0.3%, and the UK's FTSE 100 rose 0.4%.

European Market News

Americas News

Markets

Dow Jones rises ahead of US inflation data
2024-03-27 15:35PM UTC
Most US stock indices rose on Wednesday ahead of new important US data on growth and personal ...
Americas News

Markets

Wall Street gains ground following positive data
2024-03-26 15:41PM UTC
US stock indices rose on Tuesday after a series of losses as markets assess latest ...
Americas News

Markets

Wall Street loses ground as the week opens up
2024-03-25 16:16PM UTC
Most US stock indices declined on Monday as markets assess the Federal Reserve’s stance on ...