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European stocks rebound from French unrest
European stocks rose significantly to recover most of the previous losses caused by unrest in France. Strong earnings results boosted investor confidence despite ongoing economic and political uncertainty. The Stoxx 600 index increased by 0.92%, reaching 644.49 points, supported by gains in companies such as Dutch firm Randstad, which surged 20% after exceeding quarterly profit and forecast expectations, and French company Ecolon Luxotica, which rose 15.5% following its earnings announcement. The CAC 40 index also gained 1%, despite violence and riots that prompted the government to deploy military reinforcements. On the other hand, shares of companies like Carrefour declined 13.8% due to lowered profit forecasts linked to damages and negative projections, while Michelin fell 7.2% after a drop in sales. The European auto sector suffered a 1.7% loss. Nevertheless, European stock indices still lag behind the U.S. S&P 500, which has gained 12.7% since the beginning of the year.
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