LONDON — European stocks started the new trading week on a positive note, buoyed by gains in Asia overnight and last Friday’s rally on Wall Street, as investors monitor oil prices and await fresh data.
The pan-European Stoxx 600 index closed 0.17% higher, with household goods leading gains as they closed 0.97% higher. Tech shares were 0.65% lower.
The Stoxx 600 dropped 1.8% last week, with global stocks also starting October on shaky footing as escalating geopolitical tensions pushed oil prices higher. On Monday, West Texas Intermediate’s November-dated futures and Brent’s December-dated futures hit their highest levels since August 30.
“The market focus last week shifted to geopolitics with escalation between Israel and Iran. We have seen room for more geopolitical risk premium to be priced in across different asset classes, especially via energy markets… underpriced geopolitical risk premium suggests…
