London: European stock indices closed slightly higher Monday, as gains in healthcare and luxury goods stocks offset declines in banking and energy sectors, as investors assess the possibility of a US government shutdown that could delay the release of key economic data. The pan-European STOXX 600 index closed 0.2 percent higher.
According to Qatar News Agency, the healthcare sub-index was among the biggest gainers, rising 0.9 percent. The European mining sub-index experienced a significant uptick of 1.7 percent, fueled by higher metal prices. Gold reached a record high, while copper prices also rose in London, contributing to a 1.1 percent advance in technology stocks. The luxury goods sub-index saw a notable rise of 1.9 percent.
Conversely, eurozone banking shares experienced a decline of 1.1 percent, with Germany's Commerzbank losing 3 percent. The energy sector also faced challenges, with stocks falling as crude oil prices dropped more than 2 percent.
Investors are closely monitoring an upcoming meeting between US President Donald Trump and top Democratic and Republican leaders in Congress to discuss extending government funding. If no agreement is reached, the government shutdown will begin next Wednesday. The US Department of Labor will suspend the release of economic data in the event of a government shutdown, which is crucial for markets focusing on this data to gauge the path of monetary policy easing in the world's largest economy.