European stocks recovered on Monday after five straight weeks of declines, with gains in mining stocks and positive corporate earnings reports offsetting concerns about the policy tightening cycle and geopolitical tensions.
The pan-European index rose 0.1% after closing on Friday with a weekly drop of 0.7%.
Mining companies led the regional rebound, adding 1.2%, after aluminum prices in China soared 3%, bolstered by supply concerns and expectations of strong demand, while aluminum futures Chinese steel and iron ore rose after China’s state planner called for speeding up infrastructure construction. [ IRN ] [ MET /L]
Rio Tinto and Anglo American gained 1.1% and 1.6%, respectively.
Aurubis AG, Europe’s largest copper producer, rose 4.7% after confirming an 85% rise in quarterly profit and reiterating full-year earnings estimates, thanks to strong metal prices and strong production.
French car group Faurecia rose 3.1% after saying it aims to achieve sales revenue of more than 33 billion euros ($37.72 billion) in 2025, with an operating profit margin of more than 8.5 %.
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