European Stocks Close Higher on Surge in Energy and Mining Stocks
Introduction
European stocks closed higher on Monday, breaking a four-day losing streak as energy and mining stocks surged and global commodity prices surged, while Danish pharmaceuticals (Novo Nordisk) led gains in the field of healthcare.
Stock Performance
The European Stoxx 600 ended up 0.1% after gaining 0.9% on the day. On Friday, it closed at its lowest level in 6 weeks.
Energy and Mining Stocks
Shares in energy companies rose 0.6% and mining companies rose 0.4%, according to Reuters, tracking the impact of crude oil and metals prices.
Healthcare Sector
The health index in Europe rose 0.3%, helped by a 0.8% rise in Novo Nordisk shares after Morgan Stanley raised its price target for the pharmaceutical company’s shares.
Real Estate Stocks
Real estate stocks tumbled 2%, pushing down the sectoral indices.
German DAX
The German DAX rose 0.2% even after official data showed a larger-than-expected decline in German producer prices in July.
