European stocks bounced up Monday, as Italian stocks charged up and as investors set aside this weekend’s acrimonious Group of Seven meeting in Canada.
Italy’s benchmark rose after the country’s new finance minister offered reassuring comments about the eurozone.
Investors are watching for news from Singapore, where U.S. President Trump is scheduled to meet North Korean leader Kim Jong Un in an unprecedented summit.
How markets are performing
Italy’s FTSE MIB index I945, +1.95%[1] surged 2.1% to 21,792.58, with that early move wiping out Friday’s slide of 1.9%.
Investors also snapped up Italian debt, driving down the yield on Italy’s 2-year bond TMBMKIT-02Y, -20.34%[2] by 49 basis points to 1.1%, according to Tradeweb. Yields fall when bond prices rise. The yield on 10-year bond TMBMKIT-10Y, -4.45%[3] fell 26 basis points to 2.8%.
The pan-European Stoxx Europe 600 Index SXXP, +0.37%[4] climbed 0.5% to 387.12. All sectors rose, led by the financial and telecom groups. On Friday, the index fell 0.2%[5] and ended last week lower by 0.5%.
Germany’s DAX 30 index DAX, +0.36%[6] rose 0.6% to 12,839.58, and France’s CAC 40 index PX1, +0.10%[7] gained 0.3% to 5,466.35.
In London, the FTSE 100 UKX, +0.63%[8] added 0.4% to 7,713.79.
The euro EURUSD, +0.1444%[9] moved up to $1.1818 from $1.1771 late Friday in New York.
What’s driving markets
Italian stocks and bond prices leapt as Italian Economy Minister Giovanni Tria said the country’s new government is committed to the euro, according to an interview with Italian newspaper Corriere Della Serra[10] published Sunday. That appeared to allay fears...