European shares touch record high as markets resume post-holiday trading

European shares struck a record high on Monday, with basic resources stocks in the lead, as trading resumed following the Christmas and Boxing Day holidays.

The pan-European STOXX 600 was up 0.02% at 588.71 at 0820 GMT, down from the record 589.61 it hit earlier in the session.

Across the region, Germany’s DAX was down 0.2%, while Britain’s FTSE 100 and France’s CAC 40 were nearly flat.

Within the STOXX 600, basic resources companies gained 0.7%, tracking strength in precious metals’ prices.

Technology and healthcare sectors also provided support to the broader market.

Meanwhile, defence and aerospace sector lost 1.3% after U.S. President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy were “very close” to an agreement to end the war in Ukraine, while acknowledging that the fate of the Donbas region remains a key unresolved issue.

Investor focus in this holiday-shortened week will be on Tuesday’s release of the minutes of the Federal Reserve’s last meeting. The U.S. central bank cut rates earlier this month and projected just one more cut for next year, while traders have priced in at least two more and anticipate the next Fed chair to lean dovish.

Among other movers, biotech firm Abivax was up 3.2% and among top gainers on the benchmark index.