12.01.202616:53:56UTC+00European Stocks Close at New Records

European stocks rebounded from earlier losses to close with modest gains on Monday, continuing the upward trend from the previous week. This positive movement was supported by a perceived favorable macroeconomic environment, although ongoing geopolitical tensions and renewed critiques of the Federal Reserve by the US presidential administration persisted as concerns. The Eurozone's STOXX 50 index rose by 0.2% to reach 6,010, while the pan-European STOXX 600 also gained 0.2% to hit 610. Key sectors such as industrials and financial services maintained their recent upward momentum, with companies like Siemens, Airbus, Deutsche Bank, and BBVA seeing increases between 1% and 4%. Despite ongoing skepticism about the profitability of AI investments relative to their high capital costs, technology shares mostly saw gains, with Prosus leaping 3.7%, and ASML and Infineon also making advances. Conversely, in the pharmaceutical sector, Sanofi and argenx experienced losses, setting the overall tone for that industry.