European Shares Rise As UK Unveils Homebuyer Support Plan
(RTTNews) - European stocks were modestly higher on Monday despite concerns over rising oil prices and elevated bond yields after U.S. President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and end the war.
The pan-European STOXX 600 edged up 0.4 percent to 641.27 after rising 0.4 percent on Friday.
The German DAX and France's CAC 40 both rose around 0.3 percent while the U.K.'s FTSE 100 gained half a percent.
The euro hovered near a two-month low as investors braced for speeches from ECB President Chritine Lagarde and Bank of England Deputy Governor Dave Ramsden later in the day.
In corporate news, SuedZucker shares soared 7 percent. The German sugar producer raised its revenue and operating core earnings forecasts for the 2026/27 financial year, citing rising demand for biofuels.
Shares of homebuilders Barratt Redrow, Taylor Wimpey and Persimmon soared 13-15 percent in London after the U.K. government said it would unveil a scheme to help first-time buyers in next month's budget.
West Africa-focused oil and gas explorer Tullow Oil tumbled 3.3 percent after widening its first-half net loss due to higher refinancing costs.
Ladbrokes owner Entain dropped 2 percent after cutting its revenue outlook following Brazil's executive-order ban on line sports betting and gaming.
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