09.09.202516:12:14UTC+00European Stocks Edge Higher

European stocks concluded Tuesday with modest gains, continuing the upward momentum from the previous session. This came as markets grappled with ongoing political instability, fresh merger and acquisition developments, and evaluations of global interest rate projections. The Eurozone's STOXX 50 edged up by 0.2% to reach 5,372, while the pan-European STOXX 600 rose slightly to 553. In France, the political landscape saw turbulence as the parliament rejected a vote of no confidence against Prime Minister Bayrou due to disagreements over budget cuts. This impasse compelled President Macron to appoint the country's fifth prime minister in under two years. Despite the political upheaval, bond yields remained stable, providing support for equities ahead of the European Central Bank's anticipated decision to maintain current interest rates this week. Meanwhile, shares of Anglo American soared by 8.7% following the announcement of its $20.2 billion acquisition of Teck Resources. Additionally, Italian banks experienced gains after Banca MPS successfully gained control of Mediobanca for €16 billion, increasing its ownership stake in the lender to 62.3%.