European shares rise 0.8% as oil eases; Genmab jumps 12% and German business sentiment hits highest since May 2023
The STOXX Europe 600 closed at 640.66 on Monday. Germany's Ifo business climate index rose to 90.2 in October, and Spanish shares with large Brazilian operations fell after Brazil's presidential runoff.
European stock markets closed higher on Monday 26 October as oil prices fell back, Sharecast reported.
The STOXX Europe 600 index ended up 0.8% at 640.66, ending a two-day losing run, with gains in Frankfurt and Milan among the strongest, according to Sharecast.
Danish biotech company Genmab rose 12% after results from a late-stage trial of a colorectal cancer drug, and UK technology services company Computacenter gained after raising its full-year guidance, Sharecast said. Chip-equipment makers ASML and ASM International also closed higher. Spain’s Telefonica and Santander fell; Sharecast linked the falls to their exposure to Brazil, where shares and the real dropped after President Luiz Inácio Lula da Silva won Sunday’s runoff election.
Germany’s Ifo business climate index rose to 90.2 in October, its highest reading since May 2023 and slightly above the expected 90, Sharecast reported. Spain’s National Statistics Institute said industrial prices rose 18.3% in the year to September.
French government bonds steadied after Moody’s kept France’s rating unchanged on Friday, Sharecast said. The Federal Reserve, European Central Bank and Bank of Japan announce rate decisions on Wednesday, Thursday and Friday.
See also: Moody’s keeps France at Aa3 and this week’s central bank decisions.
Sources
Related coverage
All business and finance →
Brazil votes in presidential runoff between Lula and Flávio Bolsonaro, with final polls showing a close race
More than 158 million Brazilians are eligible to vote on Sunday 25 October in the second round between President Luiz Inácio Lula da Silva and Senator Flávio Bolsonaro, who led the first round with 47.03% of valid votes. Final polls put the two within their margins of error.
Brent crude rises above $113, its highest since early May, after attacks in Saudi Arabia and on Gulf tankers; gold falls
Oil prices rose as much as 4% on Thursday after Houthi attacks in Saudi Arabia and Iranian statements about strikes on vessels, while spot gold fell to its lowest level since 14 October.
Nvidia unveils factory-built DSX POD AI data centre modules at GTC Berlin
Jensen Huang said the containerised Vera Rubin systems cut deployment time at a prepared site from six months to as little as 14 days; partners are due to deliver them in early 2027.
European shares close mostly lower; Paris CAC 40 falls 0.38% as French unrest continues
The CAC 40 led declines among major European indices on Tuesday, while Spain's Ibex rose and Germany's DAX closed almost flat.
Germany's Merck KGaA agrees to buy UK biotech Silence Therapeutics for about $1.3 billion
The all-cash deal of US$20 per share adds an experimental treatment for the rare blood cancer polycythemia vera to Merck's pipeline. It is expected to close in early 2027.
European shares post best week since June as earnings offset tech sell-off
The STOXX 600 rose 0.72% on Friday to 644.74 and gained 2.09% over the week, according to Dow Jones Market Data.
