Sept 21 (Reuters) – European shares climbed on Monday, led by technology stocks, while a fourth consecutive session of declines in oil prices soothed nerves and boosted risk sentiment.
The pan-European STOXX 600 was up 0.56% at 638.98 points by 0710 GMT, after dipping 0.6% last week. Most regional bourses also traded higher.
Energy stocks slipped 0.62% as oil eased following reports that more supply was leaving the Gulf than previously expected, despite the ongoing conflict in the Middle East. [O/R]
On the other hand, travel stocks rose 0.86% as lower oil prices lifted airline shares, while technology stocks led sectoral gains, advancing roughly 2% on strength in chip-linked stocks including Soitec and Aixtron.
Germany’s DAX rose 0.76%, with investors also digesting the results of state elections in northeastern Germany, where projections showed the far-right Alternative for Germany (AfD) emerging as the largest party.
Market participants were also assessing data from Sweden showing that long-term inflation expectations among financial and business groups eased in September.
Attention is now turning to a meeting later this week between US President Donald Trump and Chinese counterpart Xi Jinping for clues on trade relations and the global economic outlook.
Among individual stocks, AstraZeneca slipped 0.32%, despite the drugmaker saying its cancer treatment Enhertu had been recommended for EU approval for use in early breast cancer.
Sweden’s Nordnet gained 4.6% after the digital bank and online brokerage platform announced a buyback programme.
Shares of biotech firm Ipsen fell more than 6%.
(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sherry Jacob-Phillips)
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