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European stock indexes made gains on Monday amid global market optimism.
At the time of writing, the FTSE 100 rose by 0.41% to 7543.6 points, and the DAX added 0.11% reaching 15057.49 points. The CAC 40 declined by 0.31% to 6910.97 points.
The Stoxx 600 increased by 0.3% to 462.22 points. Earlier, the European index lost 2% over the past week.
On the Stoxx 600, the best performers are Wizz Air Holdings PLC (2.8%), Commerzbank AG (2.5%), and International Consolidated Airlines Group S.A. (2.4%).
The biggest losers of the session are NEL ASA (-6.2%), THG PLC (-4.7%), and Prosus N.V. (-3.4%)
Stocks of European automakers made gains during the session, adding more than 0.6% on Monday. The upsurge was triggered by an outlook by French car parts manufacturer Faurecia. The company sees increased yearly sales and expects the semiconductor shortage to ease in mid-2023.
Shares of Worldline rose by 0.5% after the payment service company announced talks with Apollo Funds. Apollo Funds seeks to acquire Worldline's terminal business in the United States.
Valneva stock jumped by 2% on the news that the Scottish division of the French vaccine manufacturer received a $27 million grant for researching a vaccine against the VLA2001 coronavirus.
Shares of Diageo PLC added 0.8% after the company announced its premium share buyback program. The alcoholic beverages manufacturer expects to reacquire up to $2.3 billion of stock.
The share price of Clipper Logistics jumped by 15% on reports that US-based GXO Logistics Inc. could acquire the company for $1.3 billion.
Market players are focused on reports that Vladimir Putin and Joe Biden could meet in the future to defuse tensions in Eastern Europe. French president Macron has offered the leaders of Russia and the US to hold a summit on European security. The White House considers the meeting as an extension of the upcoming meeting between US Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov. The meeting will be conducted only if Russia does not invade Ukraine.
Markets rallied early on Monday as traders expected tensions in Eastern Europe to be defused soon.
European stock indexes also found support in the latest economic data. The preliminary Eurozone PMI rose to 55.8 points in February, up from 52.3 points in January. The Eurozone service PMI increased in February to 55.8 points from 51.1 points in January.
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