On Monday, European stocks experienced an upswing, marked by a 0.5% rise in the Stoxx 50 and a 0.3% gain in the Stoxx 600, driven largely by a rebound in mining shares. This positive movement came after President Donald Trump expressed optimism about trade relations with China, stating they "will all be fine." The Stoxx 600 Basic Materials Index surged by 2.4%, with notable performers like Fresnillo rising by 9.5%, Antofagasta by 5.1%, Aurubis by 3.7%, and Anglo American exceeding a 3% gain. Trump's reassuring comments helped alleviate concerns over potential sharp tariff increases on Chinese imports.
In the technology sector, semiconductor manufacturer ASML rose by 3.2% following the Dutch government's decision to take control of Nexperia, a Chinese-owned company, to ensure stability in chip supplies amid growing trade tensions. Meanwhile, in the banking sector, shares of Lloyds increased by nearly 1% after the bank announced an additional provision of £800 million for car finance mis-selling compensation, bringing total related provisions to £2 billion.
AstraZeneca's shares, however, edged down by 0.3% after the company agreed to reduce U.S. drug prices in return for relief from tariffs. In France, with the recent reappointment of Prime Minister Sebastien Lecornu, Roland Lescure was appointed as finance minister in anticipation of unveiling new budget plans.
