European shares up in early trade, defence stocks lead

European shares rose in early trading on Monday, led by gains in defence stocks, as political leaders in the region called for an emergency summit on the Ukraine war.

The meeting, hosted by French President Emmanuel Macron, follows growing US calls for increased military spending in Europe, alongside suggestions that Europe would be excluded from any potential peace negotiations.

The pan-European STOXX 600 index edged up 0.10 per cent as of 4:08 AM ET (9:08 AM GMT). Germany’s DAX gained 0.50 per cent as investors focused on the upcoming federal election, while France’s CAC 40 slipped 0.05 per cent due to declines in luxury stocks like L’Oréal and Louis Vuitton. Spain’s IBEX 35 rose 0.39 per cent, and the UK’s FTSE 100 saw a rise of 0.08 per cent.

Attribution: Investing.com, Amwal Al Ghad English

Subediting: M. S. Salama