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European stocks rise, diverging from U.S. tech fears

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European stocks advance with Wall Street closed for Labor Day

Down 1.9% last week, the Stoxx Europe 600 SXXP, +1.28% rose 1.1%, with automobile makers including Renault RNO, +2.37% and Volkswagen VOW3, +3.35% advancing.U.S. stock futures, which will still trade despite U.S. markets being shut for the Labor Day holiday, were lower, particularly for the technology-oriented Nasdaq-100 NQ00, -0.74%.

SoftBank Group 9984, -7.15% shares dropped over 7% in Tokyo on Monday, after The Wall Street Journal reported the Japanese investment group bought $4 billion worth of options tied to around $50 billion worth of individual tech stocks. Germany reported a 1.2% rise in industrial production for July, which was a slower than forecast rise.

 

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