Germany's main stock index rose above 20,000 points for the first time, with European stock markets rising for the fourth consecutive trading day, as investors are bearish on French political risks.
The STOXX 600 index closed up 0.4%, setting a record for the longest single-day consecutive gain since August. The French CAC 40 index rose 0.3%.
Construction and retail stocks outperformed the large cap, while defensive sectors like telecommunications, real estate, and food & beverage performed the worst. In terms of individual stocks, ASML Holding rose, reiterating its forecast for net sales in 2025.
Due to concerns about potential U.S. tariffs, geopolitical risks, and the sluggish regional economy, European stock markets have been lagging since reaching their peak in September. Political unrest in France intensifies worries, with French lawmakers set to hold a vote of no confidence on Wednesday.
Calculated in U.S. dollars, the benchmark STOXX 600 index has underperformed the S&P 500 index by over 25 percentage points this year, marking the largest gap of this century.