European Stocks Close Broadly Higher Ahead Of Earnings Announcements

(RTTNews) - European stocks closed higher on Monday, and the U.K. market recorded its longest winning streak in over five years, moving up for the eleventh consecutive session, as investors focused on upcoming earnings announcements and some crucial European and U.S. economic data.

Hopes of a de-escalation in U.S.-China trade friction too contribute to the positive mood in the market.

The pan European Stoxx 600 climbed 0.53%. The U.K.'s FTSE 100 edged up 0.02%, Germany's DAX crept up 0.13% and France's CAC 40 gained 0.5%. Switzerland's SMI closed stronger by 0.72%.

Among other markets in Europe, Belgium, Denmark, Finland, Ireland, Italy, Norway, Poland, Russia and Spain closed higher.

Austria, Czech Republic, Greece, Iceland, Portugal and Turkiye drifted down, while Netherlands and Sweden settled flat.

In the UK market, Entain gained nearly 7%. Kingfisher climbed about 3%, while BT, Howden Joinery, Hikma, JD Sports Fashion, Taylor Wimpey, Vistry Group, Associated British Foods, Vodafone Group, Persimmon, Fresnillo, GSK, Melrose Industries, AstraZeneca and Reckitt Benckiser gained 1 to 2.5%.

Deliveroo zoomed 18%. The British meal delivery company has suspended its 100 million pounds ($133.13 million) share buyback program after receiving a proposal from DoorDash to buy all of its shares.

Weir Group, Standard Chartered, Anglo American Plc., Rentokil Initial, Intertek, Spirax and Glencore lost 1 to 2%.

AstraZeneca, HSBC Holdings, BP and Associated British Foods are scheduled to announce their earnings on Tuesday.

GSK, Barclays, Haleon, Lloyds Banking, Endeavour Mining, Whitbread, Shell, Natwest and Standard Chartered are among the several other companies slated to report their earnings this week.

In the German market, Fresenius Medical Care, Fresenius, SAP, BASF, MTU Aero Engines, Beiersdorf and Daimler Truck Holding gained 1 to 2.3%.

Merck moved up sharply after announcing that it has struck a deal to acquire U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to boost its cancer drug business.

Rheinmetall closed lower by about 3.7% and Continental ended 3.3% down. Hannover Rueck, Deutsche Boerse, Vonovia, Zalando, Brenntag, Munich RE, Sartorius and Deutsche Telekom lost 1 to 2.3%.

Adidas, Deutsche Bank, Porsche, Symrise, Lufthansa and HelloFresh are scheduled to announce their earnings updates on Tuesday.

Mercedes-Benz, Volkswagen, Deutsche Post, BASF and Linde are also slated to announce their earnings this week.

In the French market, Airubs Group, Teleperformance and Kering gained 2.2 to 2.7%. BNP Paribas, Saint-Gobain, Credit Agricole, Arcelor Mittal, L'Oreal, Societe Generale and Unibail Rodamco gained 1 to 1.8%.

Dassault Systemes and Edenred both ended nearly 2% down. STMicroElectronics and Essilor also ended notably lower.

TotalEnergies, Airbus, Credit Agricole, Societe Generale and Air France KLM are scheduled to announce their earnings on Wednesday.

A report from the Confederation of British Industry said that the sales gauge for the United Kingdom rose to -8 in April 2025, the highest in six months, up from -41 in March, beating market expectations of -20.

Still, the CBI's outlook for May dropped to -33, the lowest in over a year.