LONDON — European stock markets started the new trading week on a positive note, following gains in global stocks, as hopes of a Federal Reserve rate cut in December resurfaced.
pan-european Stocks 600 By 8:35 a.m. ET in London, it was up 0.5%, with most major exchanges and sectors in positive territory.
Bayer AG The company rose 11% to lead Monday’s gainers after the German pharmaceutical and biotech company reported positive efficacy data in a Phase III trial of the blood thinner Asundexian, a stroke prevention drug.
meanwhile, AstraZeneca Shares rose about 0.2% on Friday after the London-listed drugmaker said it would invest $2 billion in a biologics manufacturing plant in Frederick, Maryland, as part of a $50 billion expansion in the United States.
European defense stocks fell on Monday as talks continued between the United States and Ukraine to develop a peace plan, as the initial 28-point proposal was seen as largely pro-Russian and requiring significant concessions from Kiev.
line metal It was down 2.7% on Monday morning. Lenk fell 2.9%, Hensoldt fell 2.1%; serve Overall, the Stoxx 600 Aerospace and Defense Index was down about 0.8% in morning trading.
The United States announced on Sunday that talks over the weekend, which included Secretary of State Marco Rubio, had made progress but failed to reach an agreement on Ukraine’s security.
In other places, anglo american Down 0.2% on Monday, weighed down by Australian multinational mining companies. BHP It has dropped plans to take over its British rival as a last resort.
Asia-Pacific markets and U.S. stock futures rose in overnight trading on Sunday as markets looked to build on a strong rebound that began on Friday after the New York Fed president opened the door to a rate cut in December.
The next FOMC meeting will be held on December 9-10, and the market is currently pricing in a 69.3% chance of a quarter-point rate cut, according to the CME FedWatch tool.
Global markets have been turbulent for weeks as investors question the soaring prices of artificial intelligence technology stocks, which were a big driver of the market’s 2025 rally.
There will be no major data or earnings releases in Europe on Monday, but British investors are gearing up for Wednesday’s autumn budget, with speculation mounting about the depth and breadth of tax increases that Chancellor of the Exchequer Rachel Reeves may announce as she attempts to balance the budget.
