On Monday, both the STOXX 50 and STOXX 600 indices saw gains of 0.2%, rebounding from early declines as initial risk aversion gave way to renewed focus on corporate earnings reports. Market sentiment was also influenced by the prospect of Kevin Warsh, the newly nominated Chair of the Federal Reserve, adopting a more hawkish monetary policy, which suppressed the dollar and exerted pressure on commodities. Additionally, concerns regarding the high valuations in the AI sector persisted.
AstraZeneca saw a nearly 2% increase after upgrading its listing to the New York Stock Exchange. Among other notable performers, Novartis appreciated by 1.6%, Nestlé by 2.4%, SAP by 1.1%, and Unilever by 2.1%. Capgemini gained 1.2% following the announcement of the sale of its U.S. subsidiary, Capgemini Government Solutions. Conversely, ASML Holding experienced a decline of 2.8%, and the broader sectors of mining, energy, and defense faced downturns alongside a steep decrease in commodity prices. Specifically, Shell and TotalEnergies each fell by 1.2%, Rheinmetall by 1.6%, BP by 1.2%, Equinor by 2.1%, and BAE Systems by 2.2%.
