European stocks advanced for a second consecutive session on Monday, mirroring the positive tone across most sectors in US equity markets on the back of upbeat earnings expectations. The Euro STOXX 50 rose 0.4% to 6,169, while the STOXX Europe 600 climbed 0.6% to 635.
Sell-side analysts indicated that global earnings growth is expected to remain solid heading into the upcoming reporting season, providing broad-based support to equities despite the backdrop of elevated bond yields.
Luxury names were among the standouts: LVMH gained 1.2% ahead of its third-quarter revenue release, and Hermès advanced more than 2%, underscoring a strong session for the sector. Banks also saw some relief, with Santander, BBVA, and ING each adding close to 2%.
In contrast, ASML fell 1.5% amid a wider pullback in stocks tied to AI infrastructure. Looking ahead, investors are focused on earnings from the Eurozone’s largest economy, which are due later this week.