European stocks climb to a record high as traders anticipate U.S. bank earnings
- The pan-European Stoxx 600 index provisionally closed up 0.7% to hit an all-time high.
- Traders are looking ahead to second-quarter earnings from major U.S. banks including JPMorgan and Goldman Sachs this week.
- U.K. Prime Minister Boris Johnson is expected to confirm that England's final lifting of lockdown rules will go ahead on July 19.
LONDON — European stocks climbed to a record high on Monday as traders looked ahead to second-quarter earnings from major U.S. banks this week.
The pan-European Stoxx 600 index provisionally closed up 0.7% to hit an all-time high. Financial services and utilities shares posted the biggest gains, up 1.5% and 1.4% respectively. Travel was the only sector in the red, falling 1.3%.
The upward momentum in Europe comes after positive trade in Asia-Pacific markets where stocks rose Monday with shares in Japan and China leading gains regionally.
Stateside, the S&P 500 inched up to a new high on Monday as investors waited for the second-quarter earnings season to kick off this week.
JPMorgan Chase and Goldman Sachs will be among the first big companies to report their results on Tuesday.
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The three major U.S. indexes closed at record highs last Friday after a sell-off Thursday as investors worried about a potential slowdown in U.S. economic growth.
Back in Europe, U.K. Health Minister Sajid Javid confirmed Monday afternoon that July 19 would mark the final stage of the roadmap out of lockdown in England. The move comes despite concerns over a continuing surge in coronavirus cases caused by the more infectious delta variant.
Looking at individual stocks, French IT firm Atos plunged 17.4% to the bottom of the Stoxx 600 after issuing a profit warning.
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– CNBC's Ryan Browne contributed to this report.
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