FX.co ★ European Stocks Start Week Higher

European stocks advanced on Monday, with the Stoxx 50 rising about 0.3% to trade near record highs and the Stoxx 600 gaining roughly 0.2%, also hovering close to its peak. The upbeat mood tracked a broader global equity rally, as investors continued to watch developments in the Middle East while energy markets began the week on a relatively calm footing. Sentiment was further bolstered by waning expectations of a Federal Reserve rate hike at its September meeting.

Basic resources were among the top performers, with Antofagasta, Hochschild Mining and Glencore climbing more than 2% on the back of firmer metals prices. Technology stocks also advanced, and the energy sector edged higher.

In corporate news, argenx jumped more than 7% after reporting positive topline results from a Phase 3 trial of its drug efgartigimod. Among other heavyweights, ASML Holding gained over 2.5%, while AstraZeneca rose more than 1%.