The pan-European Stoxx 600 index closes 0.4 per cent higher
European shares closed higher on Monday as a soft business activity reading strengthened the case for more monetary policy easing by the European Central Bank this year, with rate-sensitive sectors such as real estate and utilities rising.
Rate-sensitive real estate rose 1.3 per cent while utilities, often traded as a bond proxy, gained 1.1 per cent.dropped 10.1 per cent after Europe’s largest copper producer guided for lower earnings next financial year as it expects metal prices to fall, and after hurdles with a production ramp-up hit its fourth-quarter earnings.
The Fed’s pivotal move on monetary policy in the previous week propped up the main indexes for monthly gains, bucking a historical trend where September has been a weak month for equities on average.
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