11.11.202512:43:53UTC+00European Stocks Extend Gains

European markets experienced upward momentum for a second consecutive session on Tuesday, recuperating from the three-week lows experienced last week. This surge comes amidst a growing sense of optimism that the prolonged US government shutdown might be nearing its resolution. The STOXX 50 index advanced by 0.5% to reach 5,690 points, while the more comprehensive STOXX 600 saw an increase of 0.7%, closing at 577 points. The Republican-majority House is anticipated to cast votes on a spending proposal that the Senate had approved on Monday. This development raises hopes of ending the unprecedented 41-day US government shutdown as early as Wednesday. The proposed legislation aims to finance most governmental operations until January 30 and some agencies up until September 30. House Speaker Mike Johnson has expressed confidence in an expedited approval process.

On an individual stock note, LVMH experienced a 1.9% rise following Bloomberg's report on its strategy to unveil major new stores in China this December, alongside exploring further expansion opportunities in the region. Additionally, Vodafone's shares soared by over 5% after it revised its full-year earnings and cash flow projections upwards. Other noteworthy performers included Adidas, which climbed 2.6%, followed by Nokia and Telefonica, each gaining 1.8%, and Linde, which saw a 1.7% increase.