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European stocks closed higher on Monday as some bargain hunting after recent losses, and optimism about growth pushed up prices a bit.<\/p>\n
Worries about the spread of the Delta variant of coronavirus<\/span>, and concerns over fresh regulatory crackdown on Chinese firms limited markets<\/span>‘ gains.<\/p>\n The pan European Stoxx 600 gained 0.29%. The U.K.’s FTSE 100 climbed 0.58%, France’s CAC 40 advanced 0.59% and Germany’s DAX gained 0.2%. Switzerland’s SMI edged up 0.12%.<\/p>\n Among other markets in Europe, Austria, Ireland, Poland, Portugal, Russia and Spain closed with strong gains.<\/p>\n Belgium, Czech Republic, Denmark, Greece and Netherlands ended modestly higher.<\/p>\n Finland, Iceland, Norway and Sweden closed weak, while Turkey ended flat.<\/p>\n In the UK market, Royal Mail, Lloyds Banking Group, Pershing Square Holdings, National Grid, Rolls-Royce Holdings, Royal Dutch Shell, BP, Standard Chartered, Barclays, IAG, Barratt Developments and Aviva gained 2 to 3%.<\/p>\n Associated British Foods ended nearly 3% down after fourth-quarter sales at its Primark fashion business<\/span> came in below estimates.<\/p>\n Auto Trader Group, Burberry Group, Scottish Mortgage, Aveva Group, Pearson, Hikma Pharmaceuticals, B&M European Retail and Entain lost 1 to 3%.<\/p>\n Technip, up more than 6%, was the top gainer in France’s CAC 40 index. The stock after the company agreed to sell a stake in spin-off firm Technip Energies.<\/p>\n Safran, Renault, BNP Paribas, Engie, Air France-KLM and Valeo gained 2 to 2.6%. Faurecia, Unibail Rodamco and Thales also rose sharply.<\/p>\n Kering shares declined more than 3%. Carrefour, Dassault Systemes and LVMH ended lower by 0.5 to 1%.<\/p>\n In Germany, Continental and Daimler both gained nearly 4%. BMW rallied by about 3%. Thyssenkrupp, Deutsche Bank, HeidelbergCement, BASF, Munich RE, E.ON and Bayer also ended with strong gains.<\/p>\n German online pet supplies’ retailer Zooplus AG jumped 9%. Zorro Bidco, a holding company controlled by funds advised by Hellman & Friedman, raised its takeover offer for the company to 3.29 billion euros ($3.89 billion) from an initial offer of 3 billion euros.<\/p>\n Puma shares ended nearly 3% down. Infineon Technologies shed about 1.25%.<\/p>\n In economic releases, German wholesale prices grew at the fastest pace since 1974 in August amid sharp increases in raw material and intermediate product prices, Destatis reported.<\/p>\n Wholesale prices increased 12.3% on a yearly basis, following July’s 11.3% in July. This was the strongest growth since October 1974, when prices were up 13.2% in the wake of the first oil crisis.<\/p>\n The German economy<\/span> is set to log a noticeable growth in the third quarter before normalizing in the fourth quarter, the economy ministry said on Monday.<\/p>\n However, the further spread of the new coronavirus mutations and their influence on the infection process could cloud the outlook, the ministry said in its monthly report.<\/p>\n According to official estimate, the largest euro area economy recovered in the second quarter, with economic output rising 1.6%. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n