European Stocks off Two-Week Highs as Energy Stocks Weigh

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European Stocks off Two-Week Highs as Energy Stocks Weigh

//stocks-investing.news-articles.net/content/202 .. s-off-two-week-highs-as-energy-stocks-weigh.html

Published in Stocks and Investing on Thursday, November 28th 2024 at 0:20 GMT by

Thomas Matters

(Reuters) - Europe's main stock index opened at a two-week high on Monday, boosted by U.S. President-elect Donald Trump's Treasury Secretary nomination and upbeat comments by the European Central Bank's chief economist on monetary policy easing.

The Stoxx 600 index reached a two-week high on November 25, 2024, driven by gains in the technology and healthcare sectors. However, the banking sector experienced a downturn, with notable declines in shares of UniCredit and Commerzbank. UniCredit's stock fell after the bank announced a lower-than-expected profit forecast for the next quarter, citing increased provisions for potential loan losses. Commerzbank also saw its shares drop following a report of weaker-than-anticipated earnings, influenced by a sluggish German economy. Despite these setbacks in the banking sector, the overall market sentiment remained positive, buoyed by strong performances in other sectors and expectations of continued economic recovery.

Read the Full U.S. News & World Report Article at [ https://money.usnews.com/investing/news/articles/2024-11-25/stoxx-600-hits-two-week-high-unicredit-commerzank-drop ]