In a robust display of market strength, European stock exchanges closed on a high note during Monday's trading session. The Stoxx Europe 600 index surged by 1.00%, signifying positive investor sentiment across the continent. The Swiss Market Index also enjoyed a solid increase of 1.01%, and France's CAC witnessed a remarkable climb of 1.16%.
The FTSE 100 index in London edged up by 0.53%, while Germany's DAX index recorded an impressive closure with a 1.29% gain. In macroeconomic news, the euro area has demonstrated a declining trend in its government deficit relative to GDP. The seasonally adjusted general government deficit to GDP ratio stood at 3.2% in the euro area and 3.0% in the EU during the first quarter, as reported by Eurostat, the European Union's statistical office.
This figure marks a noteworthy decrease from the previous quarter where the ratios were at 4.0% and 3.9%, respectively. Moreover, Eurostat revealed insights into the overall government gross debt to GDP ratio in the euro area, recorded at 88.7% at the end of Q1, slightly up from 88.2% at the close of the previous quarter.
Similarly, the EU's debt ratio saw an increase, rising to 82.0% in Q1 from 81.5% in the last quarter of 2023. On the corporate front, French media giant Vivendi has made headlines by announcing plans to launch its French pay TV channel, Canal Plus, on the London Stock Exchange. Additionally, the company intends to list its public relations subsidiary, Havas, on the Euronext Amsterdam exchange.
Vivendi also unveiled its latest venture, the Louis Hachette Group, a new entity formed from its publishing and distribution divisions, which is set to debut on the Euronext Growth market in Paris. In the airline sector, Irish airline operator Ryanair disclosed its fiscal Q1 2025 results, reporting diluted earnings of 0.31 euro ($0.34) per ordinary share, marking a decline from 0.58 euro in the same quarter the previous year.
For the quarter ending June 30, Ryanair's total operating revenue reached 3.63 billion euros, a slight decrease from 3.65 billion euros in the previous year's comparable quarter. In London, shares of British business services company Rentokil soared, driving the FTSE higher. The company saw a nearly 8% increase following a report in the Sunday Times suggesting that it is poised for acquisition by private equity firms.
These firms are reportedly seeking to bring in former BT group chief executive Philip Jansen to assume the role of executive chairman. Furthermore, US-based private equity firm L Catterton, which is 40% owned by the esteemed French luxury conglomerate LVMH Moet Hennessy Louis Vuitton, reached an agreement to acquire British property developer Hammerson's stake in Value Retail.
The deal carries an enterprise value of 1.50 billion pounds ($1.94 billion), according to various media reports..