European shares rise, Diageo gains
The pan-European STOXX 600 was up 1.1% at 571.27 points, rebounding from its lowest close in more than three weeks on Friday
European shares rose on Monday, echoing a buoyant mood across global markets, while Diageo gained after the spirits maker named a new CEO.
The pan-European STOXX 600 was up 1.1% at 571.27 points, as of 0912 GMT, rebounding from its lowest close in more than three weeks on Friday. Bourses such as Germany and France also gained over 1.1% each.
In the previous session, the STOXX index logged its biggest weekly loss since late-August, as concerns over a tech bubble, coupled with the lack of official U.S. data due to the 40-day federal government shutdown pushed investors to the sidelines.
Market jitters, however, showed signs of abating after the U.S. Senate advanced a bill that would reopen the government and keep it running until the end of January. The bill needs a green-light from the House of Representatives and U.S. President Donald Trump.
In terms of employment data, the BLS is likely to be able to release the September jobs report relatively rapidly. The impact of the shutdown on other economic releases is likely to be more significant, said Michael Brown, a senior research strategist at Pepperstone.
It seems highly likely that interruptions to the usual data docket will persist into the early part of next year, meaning that policymakers and market participants alike are likely to be ‘flying blind’ for some time to come, he added.
Tech stocks bounced back from recent losses, leading sectoral gains on Monday with a 2.1% jump, while Siemens Energy added 5% after brokerage Jefferies upgraded the data centre equipment maker to ‘buy’ from ‘hold’.
Diageo rose 6.6% after the spirits maker appointed former Tesco boss Dave Lewis as its CEO, turning to an outsider to steer it through a challenging period for the drinks industry.
Later in the week the focus will be on euro zone economic growth data for the third quarter. A BusinessEurope survey showed regional businesses are likely to see a far greater impact in 2026 from trade tensions than in 2025.