European stocks climb to a record high as traders anticipate U.S. bank earnings
European stocks climbed to a record high on Monday as traders looked ahead to second-quarter earnings from major U.S. banks this week.
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The pan-European Stoxx 600 index provisionally closed up 0.7% to hit an all-time high. Financial services and utilities shares posted the biggest gains, up 1.5% and 1.4% respectively. Travel was the only sector in the red, falling 1.3%.
The upward momentum in Europe comes after positive trade in Asia-Pacific markets where stocks rose Monday with shares in Japan and China leading gains regionally.
Stateside, the S&P 500 inched up to a new high on Monday as investors waited for the second-quarter earnings season to kick off this week.
JPMorgan Chase and Goldman Sachs will be among the first big companies to report their results on Tuesday.
Reference: CNBC
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