PARIS (dpa-AFX) - The European stock markets shook off early inconsistency to finish higher on Monday, riding positive sentiment after the People's Bank of China injected liquidity into the financial system to help lenders manage upcoming government bond sales.
A mild rebound in crude oil prices added to the optimism as the markets snapped a two-day losing streak.
Germany's DAX added 19.32 points or 0.15 percent to 12,920.66, while London's FTSE climbed 37.40 points or 0.61 percent to 6,127.44 and the CAC 40 in France rose 9.01 points or 0.18 percent to 4,971.94.
In Germany, Wirecard plummeted 10.98 percent, while Deutsche Lufthansa plunged 3.71 percent, Infineon Technologies surged 3.47 percent, thyssenkrupp spiked 2.76 percent, Deutsche Bank tumbled 1.31 percent, Deutsche Telekom skidded 1.21 percent, Deutsche Post climbed 1.06 percent, Heidelberg Cement advanced 0.50 percent and Siemens and Daimler both rose 0.17 percent.
In London, Persimmon surged 3.12 percent, while Associated British Foods soared 2.55 percent, Whitbread tumbled 2.41 percent, British American Tobacco spiked 1.90 percent, Rightmove jumped 1.61 percent, Scottish Mortgage Investment Trust climbed 1.36 percent, Royal Dutch Shell sank 1.01 percent, Vodafone dropped 0.81 percent and Tesco rose 0.39 percent.
In France, Accor plunged 3.72 percent, while Sanofi spiked 1.23 percent, Veolia Environment surrendered 1.18 percent, Credit Agricole skidded 1.09 percent, BNP Paribas dropped 1.00 percent, Carrefour sank 0.51 percent, Peugeot and Societe Generale both lost 0.50 percent and Compagnie de Saint-Gobain was up 0.33 percent.
In economic news, Bundesbank said on Monday that Germany's economy is set to grow at a sharp rate in the third quarter after a record fall in Q2 due to the impact of the coronavirus containment measures, but levels are likely to remain well below the pre-crisis level for some time more.
UK house price growth accelerated in August with more sellers and buyers coming to the market on an otherwise quiet summer period, property website Rightmove said Monday. House prices grew 4.6 percent on year in August, faster than the 3.7 percent increase in July.
UK household perception of financial well-being deteriorated in August, the latest survey from IHS Markit showed on Monday. The household finance index fell to 40.8 in August from 41.5 in July. The outlook also remained firmly below the 50 neutral mark.
Copyright RTT News/dpa-AFX