European Markets on the Rise

As the European Central Bank's interest rate decision looms later this week, major European stock markets showed significant gains during premarket hours on Monday. The spotlight also turns to Italian Prime Minister Giorgia Meloni's upcoming visit to Washington, where trade relations and tariffs with United States President Donald Trump will be on the agenda. Adding to the market's momentum, the earnings season is gaining traction, with LVMH poised to unveil its first-quarter fiscal 2025 results today.

Market Highlights

At 8:02 am CET, the DAX soared by 1.99%, marking a 405-point increase, while the FTSE 100 climbed 1.80% by 8:03 am CET. Not to be outdone, the CAC 40 advanced by 1.08%, and the Euro Stoxx 50 leaped by an impressive 2.29%.

Currency Movements

The euro appreciated by 0.23% against the dollar, trading at $1.13860 at 7:58 am CET. Similarly, the British pound enjoyed a 0.26% rise against the dollar, reaching $1.31268 by 7:59 am CET.