STOXX 600, DAX, CAC, FTSE

LONDON – European stocks rose on Monday, with mining shares rebounding as traders closely monitored the new trade dispute between the United States and China.

Pan-European Stokes 600 It rose 0.5% at 10:00 AM in London (5:00 AM ET), led by the Stoxx 600 Basic Materials Index which rose 1.9%, after falling 2.5% on Friday.

UK FTSE indicator The index was last seen trading 0.2% higher, with the German index Dax By 0.6% in France CAC 40 by 0.6% and Italy FTSE MIB indicator An increase of 0.7%.

Netherlands-based semiconductor manufacturing company ASML It rose 2.8% after The Dutch government took control of Nexperiaa subsidiary of China WingTech technologyin an attempt to secure sufficient supplies of chips in Europe as trade tensions resurface.

Meanwhile, Lloyds Bank U.K. stocks rose 1.6% after the U.K. bank said Monday it has set aside an additional 800 million pounds ($1.07 billion) for damages arising from the car financing fraud scandal. The bank – whose Blackhorse subsidiary is the UK’s largest car finance subsidiary – has already set aside £1.2bn for compensation payments.

The European auto sector index rose 0.8%. Renault Add 1.8% Stellantis 3.9% increase Mercedes Benz Up to 1%. These companies are among the five major global automobile manufacturers Facing legal action in the High Court in London over allegations they attempted to cheat diesel emissions limits during tests using so-called “defeat devices”.

elsewhere, AstraZenecaShares of the British pharmaceutical company fell 0.6%, after the British pharmaceutical company reached a pricing agreement with the US government late on Friday, which would result in lower prices in exchange for avoiding tariffs.

In France, Prime Minister Sebastien Lecornu He was reassigned on Friday After his resignation on October 6, he unveiled his new cabinet, and Roland Lescure was appointed Minister of Finance. The government will try to present new budget plans later on Monday, before the deadline set by President Emmanuel Macron.

Sunday, China said “we are not afraid” of a trade war With the United States and the official spokesman Ministry of Commerce He accused her of “double standards.” Trump promised on Friday to address additional 100% tariffs on Chinese imports.

Asia Pacific markets Stocks fell overnight, as investors monitored any fallout from renewed trade tensions between China and the United States. Meanwhile, US stock futures Interest rates rose on Sunday night, rebounding from Friday’s sell-off after Trump tried to reassure markets that there would be no new trade war.

There are no earnings or major data releases on Monday but we will have the latest financial reports from the likes of ASML, LVMH and Nestle This week with the start of the third quarter earnings season.

Investors will also await news from the annual meeting of the International Monetary Fund and World Bank in Washington this week.

– CNBC’s Dan Mangan and Victor Loh contributed to this market report.