Europe Markets: European stocks climb in step with strong start to May for Wall Street

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European stocks climbed on Monday, boosted by economic data, with auto and apparel makers leading the way higher, and airlines getting a bump as the European Union proposed opening borders to nonessential travel.

The Stoxx Europe 600 index

climbed 0.6% to 439.60, after April’s gain of 1.8%, the third-straight monthly rise. The German DAX

gained 0.6% and the French CAC 40 index

rose 0.5%. The FTSE 100 index

wasn’t trading, due to a holiday. The pound

surged against the dollar, up 0.6% to $1.3896, while the euro

saw a smaller gain.

The Dow Jones Industrial Average

climbed over 200 points in early trading, while the S&P 500

also climbed, and the Nasdaq Composite

to a lesser extent. All three indexes logged gains in April.

Data in Europe showed German retail sales surged in March, the strongest increase since restrictions were imposed in March 2020 due to the coronavirus pandemic and beating forecasts. And final eurozone manufacturing economy activity in the region registered a 62.9 reading in April, a fresh high.

Shares of Deutsche Lufthansa

rose 2% and Aeroports de Paris

rose 1.6% after the European Commission said that it would propose member countries open their borders to nonessential travel by those visitors who had been vaccinated and hailed from a country with “good epidemiological situation.”

Royal Philips

was a big gainer, rising 1% after the Dutch conglomerate said it had rejected an unsolicited takeover bid by private-equity firms EQT AB and Stonepeak Infrastructure Partners, and a separate one by investment firm KKR & Co. Neither Stonepeak nor KKR responded to a request for comment by Dow Jones.

Drug companies Roche

and Novartis


rose 1% and 0.8%, respectively.

Metals Stocks: Gold prices jump to start May trade amid subdued dollar, bond yields

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