European stocks gain despite looming no-confidence vote in France
European stocks kicked off Monday with gains, even as France faces possible leadership changes.
Prime Minister Francois Bayrou could be out if a no-confidence vote goes through, all while the continent's second-largest economy struggles to rein in its debt.
Still, the STOXX 600 ticked up 0.33% and France's CAC 40 climbed 0.4%.
Oil and gas stocks lead the way
Oil and gas stocks led the way, rising 1.2% after crude prices jumped on talk of new sanctions against Russian oil following strikes in Ukraine—overshadowing OPEC+'s output plans for now.
Meanwhile, Ryanair shares slipped 2% after a downgrade from Goldman Sachs, but Marks & Spencer got a boost (up 2.2%) thanks to an upgrade from Citi.
ASML also edged up as it is set to become Mistral AI's biggest shareholder, according to a Reuters report.