"Optimism" Regarding US Debt Ceiling Reflects on European Stocks

European stocks rose on Monday, as investors found positive signals from a preliminary agreement reached by US lawmakers on raising the debt ceiling and avoiding a default. The Eurozone's "Stoxx" index increased by 0.4% by 07:15 GMT, with the banking sector among the main gainers in the bloc. Trading volumes were low due to the closure of markets in the United States, the UK, and several European countries. US President Joe Biden reached a budget agreement on Sunday with House Speaker Kevin McCarthy, which involves suspending the debt ceiling of $31.4 trillion until January 1, 2025, stating that the agreement is ready to be presented to Congress for a vote. Shares of SBB Group jumped by 6.2% after the Swedish real estate group announced it would expand a current strategic review, with options potentially including the sale of the company, its units, or assets.