(Bloomberg) — European stocks rose for a fifth month, achieving their longest streak of monthly gains since March 2024.
The Stoxx Europe 600 Index was up 0.2% by the close. Mining and energy shares outperformed along with media, while travel stocks lagged.
Volumes were subdued Friday after a technical outage at the Chicago Mercantile Exchange disrupted US futures trading. Delivery Hero SE rose 15% on reports the company is facing pressure from several large shareholders to conduct a strategic review. Whitbread Plc shares slid 11% to a seven-month low after the lodging group said the business rate changes in the UK budget will have a negative earnings impact from 2027. The stock was also downgraded at Bernstein.
European stocks have been buoyed by resilient earnings and economic growth, handing investors returns of 14% since the start of the year. Gains resumed this week following a dip from a record high reached earlier this month.
“Big picture, I think the trend for equity indices remains higher,” said Carl Dooley, head of EMEA trading at TD Cowen. “Historically, December is the best month of the year for stocks.”
Among other movers, Burberry Group Plc shares fell 2.9% after JPMorgan cut its recommendation on the trench coat maker to underweight from neutral. EasyJet Plc shares climbed 3.0% after Bernstein upgraded the stock to outperform from market-perform.
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–With assistance from Levin Stamm and Michael Msika.
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