European Stock Markets Rise Amid Key Events

Investing.com – European stock markets rose Monday, marking the start of an action-packed week featuring a US presidential election, interest rate decisions from the Federal Reserve and Bank of England, and additional quarterly corporate earnings.

At 06:45 ET (11:45 GMT), the DAX in Germany traded 0.1% higher, the CAC 40 in France rose 0.3%, and the FTSE 100 in the U.K. climbed 0.6%.

US Election and Central Banks in Focus

European equities began the week cautiously, with investors looking towards Tuesday's US presidential election. Early voting was already in progress in what is perceived as a rather close race for the White House, featuring Republican Donald Trump against Democrat Kamala Harris. The outcome is expected to significantly affect fiscal policy and global trade.

Additionally, the Federal Reserve is set to conclude its policy meeting on Thursday, where it is widely anticipated that policymakers will agree to a 25 basis point rate cut. This follows Friday's nonfarm payrolls report indicating that jobs growth nearly stalled in October due to strikes and weather disruptions.

In Europe, the Bank of England will also hold its meeting on Thursday, expected to lower rates by 25 basis points after its first rate cut in over four years last August. Other central banks, including the Swedish Riksbank and Norges Bank in Norway, will also have their policy meetings this week.

Investor morale in the eurozone showed improvement for the second consecutive month in November, with the Sentix index rising to -12.8 from -13.8 in October. Germany's investor morale, the largest economy in Europe, also increased slightly, moving from -31.5 to -29.8.

Ryanair Reports Drop in H1 Profit

Earnings season continues in Europe, beginning with Ryanair (IR:RYA), the region's largest low-cost carrier, which reported an 18% year-on-year decline in first-half profit due to a 10% decrease in average fares. However, it noted strong bookings for the current quarter and moderation in ticket price weakness, projecting only a "modestly lower" average fare compared to last year.

In other news, Burberry (LON:BRBY) shares surged over 5% following reports that Moncler is considering a bid for the British luxury brand. EssilorLuxottica (EPA:ESLX) stocks rose by 4% after news that Meta Platforms (NASDAQ:META) plans to invest €5 billion ($5.4 billion) for a 4%-5% stake in the eyewear giant. Conversely, Schneider Electric (EPA:SCHN) stock fell 1.8% due to a leadership change, with Olivier Blum appointed as the new CEO replacing Peter Herweck immediately.

Crude Prices Rise on OPEC+ Delay

Oil prices surged on Monday after OPEC+, a coalition of producing nations, postponed a planned output increase in December for at least a month due to pressures on prices from weak demand. By 06:45 ET, the Brent contract climbed 2.9% to $75.21 per barrel, while U.S. crude futures (WTI) traded 3.1% higher at $71.64. OPEC+ announced the delay of a planned output increase of 180,000 barrels per day, illustrating concerns among producing countries about global demand. Last week, both contracts experienced weekly declines exceeding 3% amid worries from record U.S. output.