European stocks mostly rise; Middle East tensions ease

Investing.com - European stock markets edged higher Monday, helped by the easing of geopolitical tensions in the Mddle East at the start of a week packed with event risks.Sentiment has received a boost Monday from the cooling geopolitical situation in the Middle East after weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as feared.

Data released earlier Monday showed that Ifo's indicator for German export expectations fell to minus 6.7 points in October from minus 6.5 points the prior month, with the automotive and metal sectors anticipating the heaviest losses in international trade. Philips now expects comparable sales to grow by 0.5% to 1.5% in 2024, down from a previous expectation of 3% to 5%.

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