LONDON — European stocks advanced on Monday as the U.S. dollar weakened, with traders easing expectations of aggressive monetary tightening from the Federal Reserve.
The pan-European Stoxx 600 added 0.8% in early trade, with tech stocks climbing 2.5% to lead gains as most sectors and major bourses entered positive territory. Telecoms slid 0.5%.
Shares of Danish jeweler Pandora jumped more than 9% in early deals to lead the European blue chip index. Siemens gained 3.7% after the German conglomerate’s mobility unit struck an $8.7 billion high-speed rail deal in Egypt.
Shares in Asia-Pacific rose sharply across the board on Monday, with Japan’s Nikkei 225 adding 2.3% to lead gains ahead of a big week of economic data releases for the region.
On the data front, Spanish inflation jumped to an annual 8.5% by EU-harmonized standards in May, exceeding economist expectations of 8.1% in a Wall Street Journal poll, as fuel and food prices continued to surge.
Euro zone economic sentiment and consumer confidence readings are due later on Monday, along with German inflation prints for May.
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Read More: European stocks climb, tracking global sentiment as dollar weakens