European Stocks Rise Near Pre-War Highs as Autos and Chemicals Gain, Oil Prices Fall
European stocks edged higher, nearing pre-war record levels, supported by gains in automobile, technology, and chemical sectors. European car sales rose for the third consecutive month in April, boosting auto stocks like Volvo and Volkswagen. AkzoNobel shares surged after rejecting a takeover bid. Brent crude oil prices fell about 2%, easing inflation concerns amid expectations of European Central Bank rate hikes. Geopolitical tensions in the Middle East moderated gains but did not significantly deter market optimism.