European stocks rise on global optimism, Ryanair profits increase by 34%.

From Investing.com: 2024-05-20 03:19:23

European stock markets saw gains on Monday, driven by optimism over global monetary policy easing. Key indices in Germany, France, and the U.K. all rose. This week, investors are awaiting European PMI data to gauge the region’s economic activity and recovery progress. The ECB is expected to cut interest rates to support growth.

Beijing introduced economic support measures, particularly for the property market, to boost China’s sluggish recovery. China maintained record-low benchmark loan rates to aid economic stability. Meanwhile, corporate earnings season continues with Ryanair reporting a 34% profit increase despite rising fuel costs. The airline remains cautiously optimistic amid uncertainties in the market.

Crude oil prices rose on Monday amidst uncertainty surrounding Iranian President Raisi after a helicopter crash. Both WTI and Brent futures saw gains, with tensions in the Middle East adding to market uncertainty. The previous week saw positive oil price movements on improved economic indicators from major consumers like the U.S. and China, with gold and euro also rising.



Read more at Investing.com: European stocks edge higher; Ryanair reports rise in profits By Investing.com