Europe Stocks Track Asia Higher, Banks Rise

European stock markets opened higher on Monday, taking inspiration from a strong session in Asia, where markets rallied as the yen tumbled after a statement from the Group of 20 major economies. A statement from the G-20 meeting late Friday was interpreted as a wider international support for Tokyo’s aggressive easing measures, which recently have sent the yen to multi-year lows.

The Stoxx Europe 600 index rose 0.7% to 287.31. Among major advancers, Delhaize Group jumped 8.1%, after a well-received earnings report.

Shares of Industria de Diseno Textil SA gained 1.4%, after Credit Suisse lifted the retailer to neutral from underperform. Among country-specific indexes, Germany’s DAX 30 index added 0.8% to 7,517.28, while France’s CAC 40 index put on 0.7% to 3,678.84. The U.K.’s FTSE 100 index added 0.7% to 6,330.59.

Marketwatch