European stocks start the 4th quarter with gains

European stocks began the last quarter of 2023 with modest gains on Monday after the United States avoided entering a government shutdown, while investors awaited factory activity data for indications about the performance of companies in the euro zone.

The European STOXX 600 index rose 0.4 percent by 0717 GMT, after ending the third quarter down about 2.5 percent on Friday.

Wall Street futures jumped after the US Congress passed a temporary funding bill late on Saturday, averting the fourth partial shutdown of the federal government in a decade.

Investors are awaiting industrial activity data in the euro zone expected on Monday.

Vivandi shares rose 3.3 percent after Barclays Bank raised its recommendation for the French media company’s stock to be worth higher than its current value.

BAE Systems shares rose 2.1 percent after Britain and the Defense Industries Corporation concluded a contract worth four billion pounds ($4.89 billion) within the framework of the Okos security program with Australia and the United States to manufacture attack submarines.