European Markets Track Higher On Monday

(RTTNews) - The major European stock markets traded higher on Monday, reversing losses from the previous session as world leaders gathered in Canada for the G7 summit, which will address global security, economic resilience, and tech cooperation. Discussions to resolve the Middle East crisis will also be a top priority.

The Israel-Iran conflict entered its fourth day, with fresh missile exchanges. Iranian strikes on Tel Aviv, Haifa, and Petah Tikva killed at least five, injured dozens, and damaged key infrastructure, including a power plant.

Markets also looked ahead to monetary policy decisions from the Federal Reserve, the Bank of Japan and the Bank of England due later in the week.

Germany's DAX climbed 182.89 points or 0.78 percent to finish at 23,699.12, while the FTSE in London rose 24.59 points or 0.28 percent to close at 8,875.22 and the CAC 40 in France added 57.56 points or 0.75 percent to end at 7,742.24.

In Germany, BASF improved 0.71 percent, while Bayer rose 0.35 percent, Siemens added 0.49 percent, Deutsche Bank collected 2.39 percent, Deutsche Post perked 0.20 percent, Mercedes Benz sank 0.79 percent, Deutsche Borse rallied 2.09 percent, Deutsche Telekom improved 1.63 percent and E.ON dropped 0.97 percent.

In London, Ashtead rallied 2.70 percent, while Vodafone spiked 2.63 percent, Tesco skidded 1.03 percent, Prudential and Experian both jumped 1.87 percent, Standard Chartered soared 3.01 percent, Rio Tinto rose 0.34 percent, Rolls-Royce accelerated 1.77 percent, British American Tobacco improved 0.89 percent and BP lost 0.94 percent.

In France, Danone shed 0.36 percent, while BNP Paribas rallied 2.95 percent, Carrefour added 0.55 percent, Credit Agricole jumped 1.83 percent, Societe Generale surged 3.22 percent, Sanofi slumped 1.06 percent, Kering skyrocketed 11.76 percent and Stellantis improved 0.83 percent.

In economic news, the euro area hourly labor cost increased at a slower pace in the first quarter of 2025, data published by Eurostat showed on Monday. Hourly labor cost grew 3.4 percent on a yearly basis, following a 3.8 percent increase seen in the fourth quarter.

Norway's foreign trade surplus declined in May from a year ago as exports fell faster than imports, data from Statistics Norway showed on Monday.

The trade surplus dropped to NOK 46.1 billion in May from NOK 52.3 billion in the same month last year. The surplus also decreased from NOK 56.4 billion in April. Exports fell 7.4 percent annually in May, and imports were 5.0 percent lower.