European Markets on the Rise

Investors turned their attention to the upcoming monetary policy decisions from major central banks, including the Bank of England, the Swiss National Bank, and the Federal Reserve, as European stock markets closed higher on Monday. The anticipation of these decisions, along with the latest Italian inflation report, which showed a slight increase to 1.6% in February from 1.5% in January, set the tone for the day's trading.

Stock Performances

Germany's DAX index saw a significant boost, climbing by 0.91%, with Siemens Energy leading the charge with a 2.97% jump. The UK's FTSE 100 wasn't far behind, adding 0.56% to its value, thanks to a notable 9.92% surge by Phoenix Group Holdings. France's CAC 40 and the Euro Stoxx 50 also enjoyed gains, improving by 0.57% and 0.78% respectively. BNP Paribas stood out as the top performer, advancing by 2.96%.

Currency Movements

In the currency markets, the euro strengthened against the dollar, trading 0.40% higher at $1.09218 by 5:31 pm CET. Similarly, the pound saw a 0.41% gain against the dollar, trading at $1.29880 at the same time.