European stocks rally near the close, with FTSE MIB up 2.61% and DAX up 2.32%

European stocks rose sharply in late trading on Monday, 9 November 2026. The FTSE MIB stood at 51357.98 at 17:14 CET, up 2.61% from the previous close of 50052.96.

What happened

The STOXX Europe 600 stood at 656.65 at 17:14 CET, near the close, a gain of 1.28% from 648.33. Milan led the main European markets in this session.

In Germany, the DAX was at 26267.5 at 17:31 CET, up 2.32% from 25672. The CAC 40 in Paris was at 8235.5 at the same time, up 1.19% from 8139. The IBEX 35 in Madrid was at 19733.6 at 17:16 CET, up 1.88% from 19369.5. Because the prints carry different times, the moves are not strictly simultaneous.

Among other markets, EUR/USD stood at 1.1203, up 0.54% from 1.1143. Brent crude was at 93.63, down 4.77% from 98.32. Gold futures were at 4133.1, up 1.43% from 4074.9.

Why it matters

The rally covered all the main European markets, with the largest gains in Italy and Germany. A lower oil price can ease energy costs for European companies and households, which import much of their fuel. A stronger euro, on the other hand, makes imports cheaper but can weigh on exporters' revenue in dollar terms.

On the corporate side, UniCredit published results before the market opened. The bank reported earnings per share of 1.9 EUR against an estimate of 1.9 EUR. Revenue was 6.59 billion EUR against an estimate of 6.54 billion EUR. UniCredit is one of the largest listed banks in Italy, so its figures matter for the FTSE MIB.

Market commentary also focused on the future of the technology trade. Goldman Sachs said that European stocks may benefit more than their US counterparts from artificial intelligence, through productivity gains and cost-cutting. It argued that rigid labor markets and overregulation have long held the region back. For investors, the session shows how energy prices, currency moves and corporate results can combine to shape sentiment in Europe.

What to watch next

The final levels of the indices will come after the auction that ends trading, and may differ from the late prints given here. The next sessions will show whether the move in Brent and the euro continues. Investors will also follow further corporate results from European banks and other large companies, and any new comments on how artificial intelligence may change productivity and costs in Europe.