European Stocks Rise Ahead of Trump's Inauguration

European stocks rose on Monday, driven by the banking and technology sectors, as investors await the inauguration of Donald Trump as President of the United States.


On Monday, European stocks rose thanks to support from the banking and technology sectors, as investors awaited the inauguration of Donald Trump as president of the USA.

The major indexes increased almost 8 percent, with shares of investment bank Credit Suisse Group being the most popular in the banking sector after it reported record earnings in the fourth quarter.

Shares of technology companies also showed growth, with payment service provider Adyen rising by 8.9 percent.

"There is uncertainty in the markets regarding what Trump will do in the context of managing the pandemic, but when it comes to revenue, there are many factors suggesting that stocks may continue to rise," noted analyst Oliver Blackborn from a brokerage firm.

The overall FTSEurofirst 300 index rose by 0.7 percent to 945.74 points.