Europe open: Stocks rebound from one-month low, Kering jumps
By Benjamin Chiou
Date: Monday 16 Jun 2025
(Sharecast News) - European stocks bounced back slightly on Monday morning, after five days of losses sent the Stoxx 600 to its lowest level in a month on the back of renewed geopolitical conflict in the Middle East.
The European benchmark index was up 0.2% at 545.81 early on, with solid gains in Madrid (+0.9%) and Milan (+0.6%) tempered by moderate performances in London and Frankfurt (+0.2%) and losses in Zurich (-0.3%).
The Stoxx 600 fell 1.6% last week to settle at 544.94 - its lowest close since 14 May - as investors scaled back risk appetite after Israel sent airstrikes to nuclear bases in Iran, causing oil prices to surge.
"The weekend brought more fire and brimstone but investors are taking the long view: Israel and Iran exchanged strikes for a fourth day on Monday but markets seemed to be moving towards relative calm after an initial risk-off move on Friday, with investors discounting a limited regional trading of blows rather than the start of WW3," said Stephen Innes, managing partner at SPI Asset Management.
Brent was down 0.5% at 73.73 a barrel, after jumping to more than $78 at once stage on Friday - its highest since January.
In equity news, shares in Renault slid 7% on the news that CEO Luca de Meo was leaving the automaker to join luxury conglomerate Kering, causing shares in the Gucci maker to jump 9%.
London-listed gambling and sports betting group Entain jumped 8% after a stronger-than-expected second quarter from its BetMGM division, with guidance for the US operations upgraded.
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