Major European stock markets ended Monday's trading session in the green as market participants assessed the latest developments on the United States political front after President Joe Biden decided to withdraw from the 2024 presidential race. Shortly after his announcement, Biden endorsed Vice President Kamala Harris as the Democratic nominee, while the Republican nominee, former President Donald Trump, claimed that Harris will be "easier" to defeat in the November election.
The DAX closed 1.36% higher, while the Euro Stoxx 50 gained 1.44%, as Bayer AG pushed both indexes up with a 4% jump. The FTSE 100 added 0.60% with Rentokil Initial plc soaring 7.77%. The CAC 40 improved by 1.16%, and STMicroelectronics NV climbed by 2.86%.
Both the euro and the pound were flat compared to the dollar at 5:31 pm CET, selling for $1.08820 and $1.29149, respectively.
