European Stock Markets See Significant Gains

On Monday, European stock markets experienced a notable uptick, with Germany's DAX leading the charge by soaring more than 2.7%. This surge came amidst reports of a slight decrease in euro area inflation to 2.4% in February and a modest recovery in manufacturing activity, despite the sector's overall contraction.

Defense Sector Receives a Boost

Defense companies enjoyed a rise in their stock prices following a European summit where leaders emphasized the importance of increasing defense spending across the continent.

Market Highlights

By 1:46 pm CET, the DAX had jumped by 2.79%, while the Euro Stoxx 50 rose by 1.37%. The CAC 40 and FTSE 100 also saw increases, up by 1.49% and 0.89% respectively. Additionally, the euro strengthened against the dollar and pound, trading 0.93% higher against the dollar and gaining 0.16% against the pound.