Global Markets | European shares edge higher, buoyed by financials

The STOXX 600 index edged higher on Monday, aided by gains in financial stocks ahead of data on industrial ‌production, ⁠while investors ⁠geared up for fresh earnings releases later this week that could offer clues into the health of corporate Europe.

The pan-European index ​edged up 0.3% to 619.74 points by 0810 GMT, with banks-heavy Spain’s benchmark leading gains among regional ​markets.

European shares hit a volatile ⁠patch in ‌late January and through early February on worries that newer artificial intelligence tools could squeeze ⁠profits of traditional businesses.

However, a better-than-feared earnings season ​in the face of steep U.S. tariffs helped ​the STOXX index touch a record high last week and log its third-straight week of gains.

Banks and insurance stocks that had been mired in AI-disruption worries last week were up 1.6% ‌and 1%, respectively.

No major earnings releases are expected on Monday, but those from Orange, Zealand Pharma, ​Airbus and ​BE Semiconductor are ⁠due later this week.
On the data front, a report later in the day is expected to show euro ​zone industrial production increased 1.3% year-on-year in December, compared with a 2.5% rise a month earlier, at a time when investors are anticipating that fiscal stimulus is reviving the sector.