European shares leap on U.S. election euphoria

Monday, 07. November 2016 18:08

Equities in major European markets rallied on Monday, breaking last week's streak of losses, as investors were adapting portfolios to the relief from news United States presidential candidate Hillary Clinton was cleared in an investigation by the country's authorities. Even if the Democratic standard-bearer was to win, a legal issue would have hampered her legitimacy. The surge in indexes was led by financials and the resources sector.

The FTSE 100 settled 1.7% in the green, 6.9 points above the 6,800 mark. Copper giant Glencore was the best performer, with a jump of 5.2%, followed by HSBC's rise of 4.85%. BHP Billiton jolted 4.68% up.

In Frankfurt, the DAX bounced 1.93%, where Commerzbank and Deutsche Bank both ripped more than 5% up. Next in the winners camp was Lufthansa, soaring 4.24%. French stocks gauged by the CAC 40 sprung 1.91% to positive territory. LafargeHolcim topped the chart, propelled 4.78% higher, while Axa, Nokia and BNP Paribas all advanced slightly less than 4% in the session.

Image: EPA / Tannen Maury

Related Links: 
Breaking the News / IT