European stocks close at their highest level in a month



And closed European STOXX 600 index It rose 0.3 percent, posting gains for the fifth straight session, led by a sub-index of retail stocks, which topped the sector with a 2.2 percent gain.

France’s CAC 40 rose 0.6 percent as discussion on the no-confidence motion continued ahead of a vote scheduled for around 18:30-19:00 GMT.

Barnier’s government, which has been in charge for three months, is expected to be forced out as the country struggles to control a huge budget deficit and French President Emmanuel Macron has said he aims to install a new prime minister. quickly if the government falls.

Political uncertainty in France has weighed on the CAC 40 index, which has fallen more than three percent this year, the lowest decline among peers. The euro has lost more than four this year, while the spread between French and German bonds has widened to a 12-year high.

Germany’s DAX rose 1 percent to close above 20,000 for the first time, supported by a 3.7 percent rise in SABB shares.

AstraZeneca and Novartis each lost about 3 percent, leading the healthcare companies sub-index lower, after HSBC cut its price target on AstraZeneca shares and downgraded Novartis shares to “reduce” from “hold.”

Hugo Boss shares rose 9.7 percent after Baader Helvia raised its rating on the German fashion house’s shares.





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