26.01.202617:02:02UTC+00European Stocks Inch Higher on Monday

European equities concluded Monday with modest gains, buoyed by strong performances from prominent banks and utility sectors. Investors overlooked potential disruptions in global trade flows, focusing instead on the evolving landscape of borrowing costs within the Eurozone. The STOXX 50 index inched up by 0.2% to close at 5,959, while the STOXX 600 climbed 0.3% to reach 610. Canadian Prime Minister Mark Carney announced on Sunday that Canada would not pursue a free trade agreement with China, in light of U.S. President Donald Trump's threat to impose a 100% tariff on Canada should such a pact be formed. Financial institutions saw notable advances alongside favorable movements in European sovereign bonds, with banks like Santander, Intesa Sanpaolo, BBVA, and ING experiencing gains between 1% and 2%. Utility companies such as Iberdrola and Enel also rose by more than 1%. Conversely, Rheinmetall dropped by 2.2%, signaling a downturn in the defense sector.