European stock markets largely trended higher in Monday’s (Nov 9) trading session, stabilizing following the pressures experienced last week. The STOXX 50 index rose by approximately 0.3% to 6,190 points, while the STOXX 600 gained 0.1%.
Market sentiment improved as investors digested corporate developments and a decline in oil prices. Geopolitical tensions also eased slightly after U.S. President Donald Trump downplayed the likelihood of further attacks against Iran.
Shares of Banco BPM surged more than 9% following a proposal by Crédit Agricole to merge the Italian bank with one of its subsidiaries. UniCredit climbed over 4% after raising its profit targets, while SAP rose nearly 2% following an upgrade from JPMorgan.
Conversely, shares of Hochtief fell by approximately 6% after ACS denied reports regarding a potential takeover. These movements highlight that corporate developments remain the primary driver for European markets early in the week.
Shares of Nvidia, traded in Frankfurt, also declined by about 6% amid reports of an internal investigation into an alleged foreign intelligence conspiracy targeting CEO Jensen Huang. This development has renewed investor caution regarding the technology and AI sectors.