European shares were slightly higher on Monday, after rounding off last week with losses, as some corporate news-driven gains limited declines from increasing geopolitical tensions in the Middle East. The pan-European STOXX 600 (.STOXX), opens new tab was up 0.2% at 545.87 points at 0706 GMT, starting the week on a positive note. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here. Gucci parent Kering (PRTP.PA), opens new tab jumped 7.2% after a report said Luca de Meo would become the new CEO, after he turned around troubled Renault (RENA.PA), opens new tab.
Shares of the French automaker fell 5.6%. A separate report said Tokyo's Nissan (7201.T), opens new tab planned to reduce its stake in Renault. Meanwhile, geopolitical tensions continued to dominate headlines. Iranian missiles struck Israel's Tel Aviv and the port city of Haifa before dawn on Monday, in the latest series of tit-for-tat attacks that started last week. The escalating tensions give markets another cause of worry as they were already grappling with the ramifications of a changing U.S. tariff policy. The energy (.SXEP), opens new tab sector was among the biggest gainers, up 1.1%, tracking a slight uptick in oil prices. Advertisement · Scroll to continue The travel and leisure sector (.SXTP), opens new tab rebounded with a 1% gain. Ladbrokes owner Entain (ENT.L), opens new tab gained 5.2% after its U.S. sports-betting joint venture with MGM Resorts (.MGM.N), opens new tab - BetMGM - raised its annual revenue and core earnings forecast.
