Gold advanced on Monday on a weaker dollar and softer U.S. economic data, while easing expectations of a Federal Reserve rate hike supported broader market sentiment. The pan-European STOXX 600 edged higher, led by basic resources and technology shares, while food and beverage stocks lagged.
Gold advanced on a weaker dollar and softer U.S. economic data, while easing expectations of a Federal Reserve rate hike supported broader market sentiment.
The move helped push European shares higher. The pan-European STOXX 600 rose 0.2% to 659.30 points as of 0708 GMT, with basic resources stocks among the session's biggest gainers.
Basic resources climbed 1.4%. Antofagasta, Hochschild Mining and Glencore rose between 2.2% and 2.7%. Technology stocks also added 1.1% to the gains.
The energy sector gained 0.3% as crude prices advanced. Food and beverage stocks were the worst performers, falling 0.7%.
With the European earnings season largely behind it and second-quarter profit expectations rising steadily, investors turned back to macroeconomic and geopolitical developments in search of the next catalyst. Iran called on the United States to accept defeat on Saturday. According to Reuters: "very evil" is how President Trump described Tehran. He also told Americans to prepare for continued high fuel prices as a result of the war.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
