Share

European stocks close higher; FTSE 100 index gains 1.6% to notch record close

Karen Gilchrist
Holly Ellyatt

This was CNBC's live blog covering European markets.

European markets on Monday started the new trading week on a positive note, following uncertain sentiment last week and a repricing of interest rate expectations.

European markets


The pan-European benchmark Stoxx 600 index provisionally ended 0.6% higher, with the majority of sectors trading in the green. Telecoms stocks led gains, up 2.1%, while autos sunk 0.8%.

The U.K.'s FTSE 100 clocked its fourth daily gain Monday, rising 1.6% to finish the session at 8023.87 points, surpassing its previous record close set on Feb. 20, 2023. U.K. stocks were boosted while sterling tumbled against the U.S. dollar as investors upped bets on a summer interest rate cut from the Bank of England.

FTSE 100.

— Karen Gilchrist

Stocks on the move: Galp up 17%, Sartorius Stedim down 2.6%

Shares of Portugal's Galp Energia soared to a 16-year-high, rising 17% in morning trade after the oil and gas company announced positive prospects for its gas exploration project in Namibia.

Meantime, shares of British biopharma firm Sartorius Stedim fell 2.6% as it struggled to pare losses after reporting a fall in first-quarter sales and net income last week.

— Karen Gilchrist

Europe stocks open higher

European stocks opened higher Monday, with the benchmark Stoxx 600 index up 0.5% by 8:05 a.m. London time.

The U.K.'s FTSE 100 climbed 1.1%, while France's CAC 40 was 0.5% higher and Germany's DAX was up 0.7%.

Stock Chart IconStock chart icon
hide content
Stoxx 600.

— Karen Gilchrist

CNBC Pro: A top fund manager is using these 7 global stocks to beat the market

Global stock markets may be coming under pressure from geopolitical tensions and sticky inflation — but one portfolio manager sees potential in several stocks.

"There are always investment opportunities to be found in all market conditions. We're looking out for stocks that we think are better than the market currently believes," Rob Hinchliffe, managing director and equity analyst at PineBridge Investments, told CNBC Pro last month.

Hinchliffe oversees more than $1 billion of PineBridge's assets via its Global Focus Equity Fund. The fund — launched in 1999 — has holdings in around 40 stocks.

He named a number of his top stocks right now.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

CNBC Pro: Analysts love this gold explorer's stock — and even the most cautious expect it to soar 114%

Shares of a Canadian gold explorer could double, according to analysts at Scotiabank.

The investment bank reiterated its bullish stance after the mining company released new drilling results from its mine in the United States.

And Scotiabank's aren't the only anaysts who like the stock. BMO Capital Markets gives it an upside of 209%, while Beacon Securities suggests the stock could rise by 400% over the next 12 months.

CNBC Pro subscribers can read more here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are expected to open in mixed territory Monday.

The U.K.'s FTSE 100 index is expected to open 15 points lower at 8,422, Germany's DAX up 23 points at 18,781, France's CAC 8 points higher at 8,201 and Italy's FTSE MIB up 15 points at 34,332, according to data from IG.

Earnings are due from Ferrovial. There are no major data releases.

— Holly Ellyatt