European equities opened the week slightly higher, with the STOXX 50 up 0.2% and the STOXX 600 gaining 0.1%, extending last week’s strong rally that pushed both indices to new record highs. With the earnings season about to begin, investors turned their attention to corporate developments and company-specific news.
Travel and leisure stocks led the advance, driven by a nearly 10% jump in EasyJet after the airline agreed in principle to a £5.5 billion takeover offer from US private equity firm Castlelake. Luxury names also performed well, with LVMH rising 1.3%, L’Oréal 1.2%, and Hermès 0.9%. By contrast, the technology sector underperformed, pressured by declines in ASML Holding (-1.5%) and Infineon Technologies (-3.2%).
