London, UK – The EuroStoxx‍ 50 surged to a new record high at the start of the trading week, buoyed by positive momentum from Wall Street on Friday and strong performance in Asian markets.​ The STOXX 50 index jumped 1.4% to close at 5,688 points, while ‍the broader STOXX 600 ⁤index rose ‌1.1%.

The ​gains were supported by easing anxieties surrounding U.S.banking ‌stability and tentative signs of a potential thaw in trade tensions⁣ between Washington and⁣ Beijing. Former President Trump previously indicated a willingness to consider tariff reductions should China increase its purchases of American soybeans.

Financial sector Leads Gains, ⁢BNP Paribas Faces ‍Setback

The financial sector demonstrated notable strength,⁣ with BBVA rising 3.9%, ⁤UniCredit⁣ increasing by 3%, and Intesa Sanpaolo gaining 2.8%. Though, BNP Paribas experienced a sharp decline, falling 7.7% following a U.S. jury’s decision to order the bank ​to⁣ pay $20.75 million due to alleged connections to atrocities in Sudan.

Defense Stocks Benefit from Global⁤ Instability

Renewed geopolitical instability fueled ‍strong performance in ‌the​ defense sector. Rheinmetall saw a 6.1% ​increase in its ‌stock price as conflicts continued to escalate in Gaza and the war ⁣in Ukraine remained unresolved.

L’Oréal Expands Beauty⁢ Portfolio ‌with ⁣Kering Acquisition

In the consumer goods ​sector, L’Oréal’s stock climbed 1% after announcing ​a €4 billion deal to acquire Kering’s ⁢beauty division.this acquisition is expected to substantially strengthen L’Oréal’s position⁤ within‍ the luxury cosmetics market.

EuroStoxx 50 Daily Price Chart – Key Levels

(Note:​ A⁢ chart illustrating key price ​levels would typically be included here for visual representation.)