ROME: European stocks pulled out a win Monday, aided by a turnaround in mining stocks and optimism surrounding a possible financial-aid deal for cash-strapped Greece.
The Stoxx Europe 600 SXXP, +0.69% finished up 0.7% at 399.82
Greece’s Athex Composite GD, +2.06% outperformed, rising 2.1% to 690.24, as the Greek government appeared closer to cinching a deal for a third financial bailout following talks with creditors over the weekend.
“If a deal can be reached [Tuesday], as being touted, it would be a key economic risk that has been overcome, albeit only for the foreseeable future,” said Craig Erlam, senior market analyst at Oanda, in emailed comments.
Overall, “investors are far more concerned now with the [Federal Reserve] and whether we will see that first rate hike in September. Today may just be a case of low summer volumes producing oversized moves in the markets,” he wrote.
