European Shares See Slight Gains Amid Geopolitical Tensions and Corporate Moves

European shares edged higher on Monday despite last week's losses, spurred by corporate gains and overshadowed by escalating Middle East geopolitical tensions. The STOXX 600 increased by 0.2% as Kering rose 7.2% following news that Luca de Meo would be the new CEO. Energy, travel, and leisure sectors also saw gains.

On Monday, European shares experienced a slight uplift despite last week's downward trend, primarily driven by corporate news in the face of growing geopolitical unrest in the Middle East.

The pan-European STOXX 600 index saw a modest increase of 0.2%, reaching 545.87 points at 0706 GMT. Gucci's parent company, Kering, soared 7.2% following reports that Luca de Meo will step in as CEO after revitalizing Renault.

In the automotive sector, Renault shares dropped by 5.6% amid speculations that Nissan plans to reduce its stake. Heightened geopolitical tensions remained prominent as Iranian missiles targeted Tel Aviv and Haifa. Meanwhile, the energy sector surged 1.1% with oil price increments, and travel and leisure stocks rebounded with Ladbrokes owner Entain gaining 5.2%.

(With inputs from agencies.)