European Stocks Extend Winning Streak as Calm Reigns in MarketBy
European stocks capped their longest rising streak in a month, while volatility eased further amid waning geopolitical risks.
The Stoxx Europe 600 Index rose 0.7 percent at the close. Miners led a broad rally in the benchmark, strengthening their position as the top performers of the third quarter. European shares climbed for a third day, after last week reaching a five-month low amid an escalating war of words between leaders of the U.S. and North Korea.
- The VStoxx Index of euro-area volatility dropped for a third day, after rising to a three-month high on Friday.
- Traders are awaiting minutes from the last Federal Reserve meeting, due after European markets close, for clues on when the central bank will begin to unwind its $4.5 trillion balance sheet.
- “In spite of the recent rebound, we still remain below the levels we were sitting at a week ago, which suggests that a certain degree of caution still remains,” Michael Hewson, market analyst at CMC Markets in London, wrote in a note.
- Among shares active on corporate news, Balfour Beatty Plc climbed 6.4 percent after posting a profit in the first half and saying it has a strong pipeline for U.S. and U.K. businesses.