Why it matters
- The STOXX 600 was at about 639.28 around 12:44 GMT on Monday, Oct. 26, up 0.55% from Friday, and Germany's DAX was up 0.96%, Yahoo Finance data showed, as lower oil prices and easing bond yields brought relief, Trading Economics said.
- Banks led gains, with BNP Paribas up about 2.5% and UniCredit 2.5%, while Telefónica fell about 6.7% and Santander 3.7% after Brazil's election, and Galp sank about 9.8% after merger talks with Moeve ended.
- Moody's kept France's Aa3 rating with a negative outlook, Trading Economics said. The ECB decides on rates Thursday, Oct. 29, the day after the Fed.
Session recap: what happened in this region's trading day, with sources.
European stocks rose on Monday, Oct. 26, as lower oil prices and some easing in bond yields offered relief after last week's losses, Trading Economics said. The STOXX 600 was at about 639.28 around 12:44 GMT, up 0.55% from Friday's close, and Germany's DAX was up 0.96%, according to Yahoo Finance data. The session opened at 4 a.m. ET this week, an hour later than usual for U.S. readers, because Europe changed its clocks on Sunday.
| Market, about 12:44 GMT | Level | Change vs. Friday |
|---|---|---|
| STOXX Europe 600 | 639.28 | +0.55% |
| Euro STOXX 50 | 6,109.05 | +0.67% |
| DAX (Germany) | 25,424.32 | +0.96% |
| FTSE 100 (U.K.) | 10,742.74 | +0.49% |
| CAC 40 (France) | 7,850.23 | +0.87% |
| FTSE MIB (Italy) | 49,096.99 | +1.11% |
| IBEX 35 (Spain) | 18,975.60 | −0.07% |
Source: Yahoo Finance chart data. Levels are intraday, delayed and approximate; changes are from Friday, Oct. 23, closes.
Why are European stocks rising today?
Investors welcomed lower oil prices and some easing pressure on bond yields, Trading Economics said, while bracing for a busy week of Federal Reserve and ECB decisions, euro-area inflation and GDP data and company earnings. December Brent crude was down about 1.2% at $115.33 a barrel around 12:55 GMT, Yahoo Finance data showed, as Saudi, Pakistani and Turkish officials met Iranian leaders in Tehran to try to avert renewed fighting, the Associated Press reported.
In Germany, the ifo Institute said its business climate index rose to 90.2 points in October from 89.9 in September. Moody's kept France's credit rating at Aa3 with a negative outlook, Trading Economics said, which eased some pressure on French assets.
Friday's session is in our Europe Friday recap.
Which stocks are moving?
Banks led the gains, Trading Economics said. BNP Paribas was up about 2.5% and UniCredit about 2.5% around 12:46 GMT, Yahoo Finance data showed. Hermès rose about 3.4%, and Bayer about 3.4% after positive prostate cancer trial results and a Chinese marketing approval for its stroke-prevention drug, Trading Economics said.
Spanish stocks lagged. Telefónica was down about 6.7% and Santander about 3.7%, Yahoo Finance data showed; both earn more than 20% of their profits in Brazil, Trading Economics said, where the Associated Press reported that voters re-elected President Luiz Inácio Lula da Silva over Flávio Bolsonaro. Portugal's Galp sank about 9.8% after talks to combine its refining, chemicals and fuel retail businesses with Moeve collapsed, despite strong quarterly results, Trading Economics said.
How is the FTSE 100 trading?
The FTSE 100 was up about 0.49% around 12:44 GMT, Yahoo Finance data showed, after two days of losses. Computacenter jumped about 10.7% after lifting its outlook on strong AI-related demand, Yahoo Finance data and Trading Economics showed. Fresnillo rose about 2.1% as gold gained. Shell fell about 1.6% and BP about 2.2% as crude retreated.
The euro was at about $1.1193 and the pound at about $1.3354 around 12:59 GMT, Yahoo Finance data showed, both slightly weaker against the dollar.
When does the ECB meet this week?
The ECB's Governing Council meets Oct. 28-29 in Frankfurt, with the rate decision and a press conference on Thursday, Oct. 29, according to the ECB's calendar. The ECB is widely expected to hold rates while keeping a possible December hike open, Trading Economics said. The Fed decides on Wednesday, Oct. 28.
What comes next for European markets?
Asia's session is in our Asia Monday recap, and U.S. futures, oil and the week's key dates are in our day-ahead guide. Opening times in ET shift this week and again on Nov. 2; our guide to world market hours lists them. Live levels are on the markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Trading Economics, Euro area stock market
- Trading Economics, Germany stock market (DAX)
- Trading Economics, France stock market (CAC 40)
- Trading Economics, U.K. stock market (FTSE 100)
- ifo Institute, ifo Business Climate Index for Germany
- Associated Press, US futures climb ahead of big earnings week and another Fed rate call and Delegations meet in Iran with Mideast region on edge over potential for renewed fighting
- European Central Bank, Meetings of the Governing Council
- Yahoo Finance, chart data for the STOXX Europe 600, Euro STOXX 50, DAX, FTSE 100, CAC 40, FTSE MIB, IBEX 35, BNP Paribas, UniCredit, Hermès, Bayer, Telefónica, Santander, Galp, Computacenter, Fresnillo, Shell, BP, Brent December, EUR/USD and GBP/USD