FX.co ★ European Stocks Close Higher

European stocks rebounded in afternoon trading on Monday, closing with modest gains following a challenging previous week. This uptick came amid dovish signals from key Federal Open Market Committee (FOMC) members. The Eurozone's STOXX 50 Index edged up by 0.4% to 5,540, while the pan-European STOXX 600 Index increased by 0.3% to 564. Technology shares within the bloc saw a notable rise, mirroring the positive sentiment in U.S. markets and providing some relief after last week's sell-off. Risk-sensitive sectors were bolstered by comments from Fed Governor Waller, who expressed support for a potential interest rate cut next month. ASML saw a 3% rise, and Infineon gained 3.5%, with Siemens and Schneider also closing on a positive note. The banking sector showed strength, with Nordea and BBVA each gaining 1.5%. However, notable exceptions were UniCredit and Intesa Sanpaolo, which slipped as major Italian banks faced detachment from dividend payouts. Conversely, Novo Nordisk plummeted by 6.5% following the announcement that a pill version of Ozempic did not slow the progression of Alzheimer's disease in a significant trial.