European stock markets saw a slight increase on Monday, driven by gains in healthcare and technology company shares.
Investors were keeping a close watch on the possibility of a U.S. government shutdown, which would likely postpone the release of important economic data.
The main pan-European index, the STOXX 600, rose by 0.2%.
Healthcare stocks were among the biggest gainers, with Britain’s GSK jumping 3.3% after the drugmaker announced that its CEO, Emma Walmsley, will step down and be replaced by Luke Miels in January.
The UK’s AstraZeneca added 1.3% after stating it will keep its listing and headquarters in London but will now directly list its shares on the New York Stock Exchange, moving away from its current depository shares system.
Technology shares advanced by 0.6%, with chipmakers ASMI and BE Semiconductor both rising by over 1%. The industrial goods and services sector also performed well, gaining 0.4%.
On the FX front, the US dollar slightly weakened on Monday. The dollar index, which tracks its value against other major currencies, was down by 0.22% to 97.90, following a gain of 0.5% last week.
For more on the US Dollar Index (DXY), read US Dollar Index (DXY): How Sustainable is the Recent Rally? Morningstar Pattern Hints at Further Upside
The dollar fell against the Japanese yen by 0.6%. Meanwhile, the euro and the British pound both strengthened against the dollar, rising by 0.25% and 0.34%, respectively.
In other news, the Australian dollar rose by 0.35%, reaching $0.6571. Investors are currently looking ahead to the Reserve Bank of Australia’s interest rate decision on Tuesday, where the central bank is widely expected to keep rates unchanged.
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