Europe open: Stoxx 600 breaks above 500-point mark

12th Aug 2024 08:02

(Sharecast News) - European stocks were in the green early again on Monday as the Stoxx 600 index broke above the 500-point mark following a volatile week for global markets.

As of 0830 BST, the pan-regional Stoxx 600 index was up 0.31% at 500.72, while the DAX advanced 0.22% to 8,186.34, the CAC traded 0.24% higher at 17,722.88 and the IBEX 35 was 0.36% stronger at 10,676.30.

Monday's economic calendar was looking pretty thin for Europe, with just Germany's monthly wholesale price index and Russian trade data due out. Also of note, OPEC will release its monthly oil report.

This week's primary focus will likely be Eurozone GDP and employment numbers, due out on Wednesday, with the preliminary Q2 results potentially adding evidence that the EZ was in a different position to the US - with a tight labour market and continued, albeit slow, growth.

On the corporate front, German reinsurer Hannover Rueck and Spanish real estate investment trust Immobiliaria will both report earnings on Monday.

Reporting by Iain Gilbert at Sharecast.com