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Bloomberg
Banks and energy producers led a broad rally in European stocks as investors kicked off the second half of the year. The Stoxx Europe 600 Index added 0.6 percent at 8:21 a.m. in London, rebounding from a two-month low. The benchmark on Friday extended its June declines to 2.7 percent, the worst in a year, halting its longest run of monthly gains since 2013.
Total SA and Repsol SA gained more than 1 percent as oil rose for an eighth straight day. Vestas Wind Systems A/S jumped 3.4 percent after the Danish renewable-energy firm received an order for its wind turbines in the US. Thyssenkrupp AG rose 2.1 percent on a report that it may decide on the feasibility of merging its steel unit with India’s Tata Sons Ltd. Plus500 Ltd jumped 9 percent after the retail trading firm said annual sales and profit will be “significantly†higher than analysts’ estimates.
Data today will probably confirm euro-area manufacturing expanded in June at the fastest pace since 2011, while the unemployment rate remained at an eight-year low in May, forecasts show. While the Stoxx 600 on Friday capped its longest weekly losing streak since the 2016 Brexit vote, it’s still up 5.6 percent for the year.