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European Stocks End Monday Up

(MENAFN) European equities posted solid gains Monday as market participants anticipated an economic rebound in the months ahead, even as geopolitical tensions continue to cast shadows over global stability.

The continent-wide Stoxx 600 benchmark advanced 1.03%, adding 6.31 points to settle at 617.31.

Germany's DAX 40 climbed 1% to finish at 24,784.92 points, while the UK's FTSE 100 surged 1.15% to reach 10,341.56.

France's CAC 40 increased 0.67% to 8,181.17, and Spain's IBEX 35 jumped 1.31%, closing at 18,115.2 points.

Italy's FTSE MIB bucked the trend, sliding 1.05% to finish at 46,005.21 points.

Market attention centered on risks emerging from the US partial government shutdown and speculation that Kevin Warsh, President Donald Trump's Federal Reserve chair designate, will refrain from implementing steep interest rate reductions.

Across European trading floors, the week's spotlight will fall on monetary policy announcements from the European Central Bank and the Bank of England, with both institutions anticipated to maintain current policy rates.

Monday's official figures showed Germany's retail sales expanded 0.1% in December versus the prior month, reversing the 0.5% contraction recorded previously.

In the UK, the manufacturing purchasing managers index (PMI) climbed to 51.8 points in January, marking its strongest reading in 17 months.

The Eurozone's manufacturing PMI increased 0.7 points in January to 49.5.

The euro-dollar exchange rate stood at 1.18 as of 1745GMT, declining 0.4%.

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