European Stocks Resume Record-Breaking Rally as Mining Shares Rebound

Deep News01:50

European stock markets reached a new record high for the first time since mid-January, driven by a rebound in mining stocks, with travel & leisure and banking shares also ranking among the top gainers.

The Stoxx Europe 600 index closed 1% higher. Defensive sectors, including food and beverage stocks, also advanced, indicating that investors remain cautious amid heightened geopolitical and economic uncertainties. Real estate stocks were among the worst-performing sectors.

Mining stocks rebounded to gain 0.8% after having fallen as much as 3.5% earlier, buoyed by news that US President Donald Trump is preparing to launch a strategic critical minerals reserve project with $12 billion in seed funding. Spain's IBEX 35 index also hit a fresh all-time high.

"As risk sentiment has turned more bullish again, with precious metal prices recovering, this is also providing support for the stock markets," said Ulrich Urbahn, Head of Multi-Asset Strategy & Research at Berenberg.

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