European Stocks Close at Record Highs

European stock indices closed sharply higher on Monday with support from banks, industrial giants, and the tech sector on a batch of positive corporate news and the sustained view of a relatively favorable macroeconomic backdrop for equities this year.

The STOXX 50 jumped 1% to 6,058 and the STOXX 600 rose 0.6% to 621, both at record highs.

UniCredit surged over 6.4% after beating forecasts to its fourth-quarter earnings and announcing a strong dividend payment to shareholders, extending the strong momentum for major Eurozone lenders.

In the meantime, SAP and Adyen gained between 2.5% and 5% to recover from the sector-wide selloff last week that was sparked by strong automation tool performances by Anthropic.

TotalEnergies, Siemens, EssilorLuxottica, and Siemens Energy were higher ahead of their earnings reports this week.