STOXX indices up on autos, tech gains and economic data

The STOXX 50 climbed 0.8%, while the STOXX 600 gained 0.3% to start the first trading week of the year, driven by strong autos and tech performance.

STOXX indices up on autos, tech gains and economic data

Investors focused on newly released economic data, including a solid services PMI reading for Spain, with Italy’s figures surpassing expectations. Preliminary inflation data for Germany is expected later today, while the Eurozone's inflation figures are due tomorrow.

Volkswagen and Neste shares jump on key deals

On the corporate side, Volkswagen saw its shares rise by about 2% following the announcement of an expanded partnership with China's Xpeng to develop a fast-charging network in the country. Neste shares surged nearly 5% after securing its largest-ever contract to supply sustainable aviation fuel, sparking optimism about its growth outlook.