European markets close slightly higher as investors digest U.S. stimulus hopes; banks rise 2%
European stocks ended the day cautiously higher on Monday, brushing off tensions between the U.S. and China that hit technology stocks.
The pan-European Stoxx 600 pared some of its earlier gains to provisionally close up 0.2%. France’s CAC 40 ended the day provisionally 0.3% higher, as did the U.K.’s FTSE 100. Spain’s Ibex was the best performer of the major indexes, closing 1.7% in the green. Germany’s DAX ended the day flat.
Banks added almost 2% to lead gains on the back of some positive data from China which bolstered hopes of economic recovery, while tech stocks dropped 1.6% amid a fraying of relations between Washington and Beijing.
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