European stocks made gains on Monday, with investor focus shifting to the tech sector and away from China’s slowing post-pandemic recovery and flagging property market. The region-wide Stoxx 600 rose by 0.1%, recovering from early losses. France’s Cac 40 added 0.2% and Germany’s Dax climbed 0.5%.
Amsterdam-based Philips saw the biggest gains in Europe, up 4.7%, after the Agnelli family took a 15% stake in the company to support its transition from electronics to health technology.
However, Asian equities faced declines as property developer Country Garden suspended trading in at least 10 of its mainland bonds over the weekend. This move raised investor concerns about a liquidity crisis in China’s real estate sector.
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