Europe close: Stocks overcome early weakness
European shares overcame early weakness to finish higher on Monday, even as investors continued to worry about the spread of Covid-19 cases and rising inflation.
"Rising yields have helped to drive stocks higher, although the Nasdaq is lagging behind. The UK has confirmed its plans to reopen on 19 July, although high street and travel stocks have felt little benefit today," said IG senior market analyst Josh Mahony.
"Virgin Galactic flight success provides hope that space tourism will soon be upon us."
The pan-European Stoxx 600 index gained 0.69% to 460.83, alongside a 0.65% advance for the German Dax to 15,790.51 while Italy's FTSE Mibtel was up 0.92% at 25,283.20.
On the economic front, at the weekend European Central Bank president, Christine Lagarde, told investors to expect changes in the monetary authority's 'forward guidance' at the next governing council meeting in 10 days.
In equity news shares in tabloid publisher Daily Mail and General Trust jumped after its largest shareholder, the Rothermere family, said it might take the UK newspaper group private in a £810m deal, if the sales of its insurance risk unit and Cazoo business go through.
Tate & Lyle shares edged higher after the company said it had agreed to sell a controlling stake in its primary products business in North America and Latin America to private equity outfit KPS Capital Partners for $1.3bn.
Shares in UK insurer Admiral gained 4% after the company raise its first-half profits forecast.
French IT consulting group Atos slumped 18% after it cut full-year earnings forecast.
Miners were also under pressure as metals prices fell amid 'market chatter' regarding a mid-year slowdown in China's economy, with Anglo American, Antofagasta and Glencore trading lower.