European Shares Rise Amid Fed Rate Cut Hopes, Earnings Deluge
European stocks rose on Monday, buoyed by earnings updates and hopes for a U.S. Federal Reserve rate cut. The HCOB Eurozone Composite PMI increased to 50.9 in July, indicating growth. The pan-European STOXX 600 gained 0.3%, with notable performances from Gerresheimer (+3%), Rational AG (+2.2%), and Hugo Boss (+7%). However, Continental (-1.3%) and Fresenius Medical Care (-3.4%) faced declines. Smith & Nephew surged 15% after announcing a $500 million share buyback, while Domino's Pizza Group plummeted 14% after lowering profit guidance.