FX.co ★ European Stocks Gain on Monday

On Monday, the STOXX 50 edged up by 0.3%, while the STOXX 600 saw a 0.4% increase as European markets showed resilience against the negative sentiment from the US, which followed Moody’s downgrade of the country's credit rating and outlook. Traders kept their attention on geopolitical events. Notably, the EU and the UK reached a preliminary agreement concerning defense and security cooperation, fisheries, and youth mobility ahead of an upcoming EU–UK summit. This deal may pave the way for British companies to engage in significant EU defense contracts. In parallel, Donald Trump and Vladimir Putin are scheduled to discuss developments in Ukraine today. Among industry sectors, food & beverages, along with travel & leisure, recorded the highest gains. Conversely, the oil & gas, technology, and banking sectors experienced slower performance. Corporate news also made headlines as Diageo's stock climbed approximately 2%, following the company's confirmation of its full-year guidance, despite cautioning about a potential annual $150 million impact due to tariffs. Additionally, BNP Paribas saw a 1.4% rise in shares after it revealed plans for a €1.08 billion share buyback program slated for 2025.