European Shares Rise As UK Unveils Homebuyer Support Plan

(RTTNews) - European stocks were modestly higher on Monday despite concerns over rising oil prices and elevated bond yields after U.S. President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and end the war. The pan-European STOXX 600 edged up 0.4 percent to 641.27 after rising 0.4 percent on Friday. The German DAX and France's CAC 40 both rose around 0.3 percent while the U.K.'s FTSE 100 gained half a percent. The euro hovered near a two-month low as investors braced for speeches from ECB President Chritine Lagarde and Bank of England Deputy Governor Dave Ramsden later in the day. In corporate news, SuedZucker shares soared 7 percent.