European markets close the day with optimistic gains in Italy

Gains dominated Monday's day between European placesthe Paris and Lisbon markets joined the operations after being closed for a few hours due to technical failures that delayed the usual opening of these markets.

European stocks rebounded thanks to reports of encouraging commercial profits and relief Italy has avoided a drop in its sovereign rating, although the slowdown in the Chinese economy, which has affected the future of US equities, is still causing concern.

However, the euro has depreciated to a minimum for a session after a party source said German Chancellor Angela Merkel would not run for the presidency of the Christian Democratic Party after losing at a regional election in Hesse.

The Italian index Mibtel of the Milan Stock Exchange led the day up, increasing by 1.91% to 19 000 039,85 units, after the decision of Standard & Poor to leave unchanged the sovereign rating of Italy, this which generated a relief between investors and operators.

It also boosted Italian banks' stocks to 2.7%.
For its part, the euro zone grew by 0.5%, driven by a weaker euro.

In London, the FTSE-100 index rose 1.26% to 7,026.75 units, while the Stoxx-600 index gained 0.9% to 355.52. units.

The Frankfurt bag, meanwhile, added a 1.2% hike to finish at 11 thousand 335.48 units; the SMI of Switzerland, which gained 0.58%, to 8,000,760.50 units and the Ibex-35 of the Madrid stock market, which fell to 1.04%, the 8,000,821.20; while the Lisbon ISP grew by 0.56%.

In the currency market, the euro depreciated by 0.11%, reaching a lower level in two months, to 1,135 units, a level very close to a minimum of $ 1.2775 before the publication of the annual budget, later on Monday.

Global financial markets have been affected by a series of negative factors, ranging from the intensification of the trade conflict between China and the United States, to the European tensions over the Italian budget and the tightening of monetary policy.

Chinese data has highlighted fears of a slowing economy as profit growth in industrial firms slowed for the fifth consecutive month in September due to lower sales of raw materials and manufactured goods.

With information from Reuters, Notimex and Bloomberg.