The European stock market rose for the tenth consecutive trading day, marking the longest winning streak since August 2021, as investors focused on corporate transaction dynamics and tariff-related statements.
The Stoxx Europe 600 index rose 0.2% on the 5th, led by Erste Group Bank. Oil prices fell due to worries of global supply surplus after OPEC+ decided to significantly increase output again, causing energy stocks to underperform. The UK market was closed on Monday for a public holiday.
US President Trump indicated that a partial trade agreement might be reached as early as this week, but there are no plans for talks with Chinese President Xi Jinping this week. The Stoxx Europe 600 index has fully recovered all losses since Trump's tariff measures were announced in early April.
Bloomberg quoted Sempere, the head of trading at asset management company MPPM, as saying: “The faint hope of a shift in tariff policy has temporarily stabilized market sentiment, but some indicators still show the possibility of an economic downturn.”
Erste Group Bank agreed to acquire a 49% stake in Santander Bank's Polish subsidiary for approximately €6.8 billion (RM32.383 billion), marking one of the largest banking transactions in Europe in recent years. Erste Group Bank's share price recorded its largest increase since 2022, while Santander Bank Poland's share price fell.