European equity markets advanced on Monday, buoyed by investor optimism surrounding the G7 summit underway in Canada, where leaders are tackling key issues including international security, economic stability, and cooperation in emerging technologies. The ongoing conflict in the Middle East is also expected to dominate the agenda.
The Israel-Iran confrontation has now entered its fourth day, marked by continued missile exchanges. Iranian strikes on Tel Aviv, Haifa, and Petah Tikva have reportedly left at least five people dead, injured dozens more, and disrupted vital infrastructure, including a local power station.
Investors are also closely monitoring upcoming interest rate decisions from major central banks this week, with policy announcements due from the Federal Reserve, the Bank of Japan, and the Bank of England.
Across the region, the French CAC 40 led gains with a rise of 1.1%, followed by Germany’s DAX climbing 0.6%, and the FTSE 100 in the UK up by 0.5%.
Among individual movers, Entain (LSE:ENT) saw a significant boost after the sports betting and gaming giant raised its full-year earnings guidance for BetMGM, its U.S.-based joint venture.
Spectris (LSE:SXS) shares rallied sharply after the precision measurement firm disclosed it had rejected a second acquisition bid from private equity firm KKR, signaling confidence in its standalone value.
Kering (BIT:1KER), the luxury conglomerate behind Gucci, also traded higher on speculation that former Renault CEO Luca de Meo is poised to take over as the company’s new chief executive.
Conversely, Renault (EU:RNO) shares slid after Nissan executive Ivan Espinosa confirmed plans to scale back the company’s stake in the French automaker, raising concerns over the future of the alliance between the two carmakers.
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