European equities traded mostly in positive territory on Monday, taking cues from Wall Street, where major indices closed the previous week at record highs.
Markets are navigating renewed uncertainty surrounding U.S.-Iran relations, with media reports indicating that Iran has proposed reopening the Strait of Hormuz and ending the conflict, while deferring discussions on its nuclear programme.
Investors are also focusing on upcoming interest rate decisions from leading central banks, including the Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England.
On the economic front, German consumer confidence is expected to weaken significantly in May, as rising inflation linked to the Iran conflict weighs on income expectations. Data from the NIM Consumer Climate survey powered by GfK showed the forward-looking index falling to -33.3 from -28.1 in April, marking its lowest level since February 2023.
Among major indices, the DAX was up 0.8%, while France’s CAC 40 gained 0.4%. The UK’s FTSE 100 hovered just below flat.
At the stock level, Santhera Pharma (LSE:0QN1) advanced after the Swiss specialty pharmaceutical group announced a positive CHMP opinion supporting an expanded use of AGAMREE.
AstraZeneca plc (LSE:AZN) also moved higher in London following news that its Saphnelo treatment secured FDA approval as a once-weekly autoinjector for adults with systemic lupus erythematosus.
Meanwhile, German wind turbine maker Nordex SE (TG:NDX1) surged after reporting first-quarter results that exceeded analyst expectations.
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