European Stocks Close Mostly Higher Monday Despite France, Spain Political Strains

MT newswire2026/10/05 16:03

12:03 PM EDT, 10/05/2026 (MT Newswires) -- European stocks closed mostly higher Monday as investors tracked global bond yields, political developments in France and Spain, and oil prices. The Stoxx Europe 600 gained 0.4%, Germany's DAX 40 rose 0.1%, the FTSE 100 and the Swiss Market Index each advanced 0.3%, while France's CAC 40 fell 0.8%. French sovereign 10-year bond yields hovered near 5% amid debt concerns and perceived political gridlock ahead of the 2027 presidential election. In Spain, Prime Minister Pedro Sanchez called for a snap election amid protests over housing costs. Growth in the eurozone economy continued to accelerate in September with private sector business activity rising at the fastest rate in more than three years, S&P Global Market Intelligence said. The Composite PMI Output Index increased to 53.1 from 52.0 in August. In corporate news, UBS engaged with Nordea Bank over exiting Switzerland or potentially facing a new law that could compel it to hold up to $16 billion in additional equity, Bloomberg reported Friday. Shares of UBS gained 1.1% in Zurich. Ares Management (ARES) is seeking a multimillion-pound upfront payment from BT Group in exchange for supporting a potential takeover of struggling broadband provider TalkTalk, Sky News reported. Shares of BT rose 1.6% in London. Eni (E) and Repsol SA are weighing selling part of their stakes in the Perla natural gas field off Venezuela's coast to external investors, Bloomberg reported. Shares of Eni advanced 0.7% in Milan. BP CEO Meg O'Neill said the company adjusted refinery operations to maximize diesel production after prices surged. Shares of the oil and gas company increased 1% in London.

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