European Markets Close Higher On Monday

(RTTNews) - The major European markets opened higher on Monday and spent all day in the green, extending Friday's gains as investors assessed the outlook for inflation and economic growth.

The dollar index held near a five-week high, and the benchmark U.S. 10-year treasury yield rose to a new six-week high, as investors awaited the release of U.S. consumer price data and retail sales figures this week for additional clues on the Federal Reserve's monetary policy trajectory.

Germany's DAX added 89.36 points or 0.58 percent to finish at 15,397.34, while the FTSE in London advanced 65.15 points or 0.83 percent to close at 7,947.60 and the CAC 40 in France jumped 78.86 points or 1.11 percent to end at 7,208.59.

In Germany, Beiersdorf jumped 1.91 percent, while Fresenius Medical climbed 1.75 percent, Infineon Technologies rallied 1.12 percent, Siemens Energy advanced 1.00 percent, Deutsche Telekom improved 0.94 percent, Siemens Healthineers sank 0.85 percent, Deutsche Borse added 0.47 percent, Deutsche Bank collected 0.28 percent, Deutsche Post fell 0.22 percent and Daimler Truck Holding eased 0.11 percent.

In London, Persimmon plummeted 3.69 percent, while Antofagasta spiked 2.24 percent, Vodafone rallied 2.09 percent, British American Tobacco jumped 1.86 percent, Rolls-Royce advanced 1.84 percent, Entain improved 1.30 percent, St. James Place climbed 1.21 percent, Scottish Mortgage Investment added 0.92 percent, Rightmove gained 0.38 percent, Centrica sank 0.20 percent and Tesco eased 0.04 percent.

In France, L'Oreal surged 3.74 percent, while Vinci spiked 2.95 percent, Schneider Electric jumped 2.29 percent, Carrefour tumbled 1.23 percent, Sanofi sank 1.18 percent, Societe Generale collected 0.76 percent, BNP Paribas lost 0.42 percent, Credit Agricole dipped 0.17 percent, Orange rose 0.13 percent and Vivendi was unchanged.

In economic news, the European Commission said Monday in its interim forecast that the euro area is set to avoid a recession and gradually pick up its pace next year, as inflation likely peaked and has loosened its grip on economic activity.