FX.co ★ European Stocks Extend Gains

European stocks saw gains on Tuesday, as the STOXX 50 climbed 0.5% and the STOXX 600 increased by 0.6%, building on the upward momentum from the previous session. Investor optimism was fueled by positive developments regarding the potential end to the US government shutdown. A bipartisan agreement in the Senate, with some Democrats breaking ranks with party leadership alongside Republicans, led to a 60-40 vote to pass a bill ending the longest government shutdown in US history. This political progress, combined with fresh corporate news, bolstered market sentiment. LVMH shares rose by 1.8% following Bloomberg's report that the luxury retailer plans to open significant new outlets in China this December and is eying further expansion in the region. Additionally, shares of ASML (up 1.2%), Hermes (up 2%), AstraZeneca (up 2.4%), and Roche (up 1.1%) all experienced increases. Vodafone saw a surge of over 5% after the telecommunications company raised its full-year earnings and cash flow forecast.