European stocks rebound as Italian No-vote-led jitters fade

The stocks on the European bourses opened on a bearish note this Monday, tracking a negative close on the Asian markets, in wake of a No vote victory in Sunday’s Italian referendum on the constitutional reform.

However, the risk sentiment soon recovered and the European equities turned positive and staged a solid rebound, calming unnerved markets, with the officials from the Euro area economies hitting the wires and posting optimistic remarks on the Italian banks sector and overall economy.

Moreover, recovery in oil prices also lifted the sentiment around the commodity-heavy FTSE index, while markets remain unfazed by the Supreme Court Brexit ruling. Also, markets cheer an unexpected rebound seen in the UK’s services sector activity alongside solid services PMI reports published from the Euroland as well.

Meanwhile, Germany's DAX 30 index rises +1.70% to 10,700 levels, while the UK's FTSE 100 index advances +0.80% to 6,785. Among the other indices, the French CAC 40 index jumps +1.43% to 4,595 while the pan-European Euro Stoxx 50 index rallies +1.46% to now trade around 3,060 points.