DASSAULT AVIATION 
In Paris, the CAC 40 gained 0.03% to 7,257.47 points around 16:56 GMT. In Frankfurt, the Dax advanced by 0.45% and in London, the FTSE 100 gained 0.36%.
The EuroStoxx 50 index ended up 0.29%, the FTSEurofirst 300 rose 0.04% and the Stoxx 600 gained 0.14%.
European stock markets reacted well on Monday to the appointment of Scott Bessent as US Treasury Secretary, a long-awaited announcement that allayed fears of a riskier choice and even concerns about the impact of Donald Trump's trade measures on inflation, as the future leader's views on tariff hikes were more moderate than those of the president-elect.
"The market feels that Mr. Bessent is a safe candidate," said Stephen Spratt, strategist at Societe Generale, relieved that the risk of a less orthodox choice had been dismissed by the markets and that Scott Bessent had raised the possibility of limiting US borrowing.
Eurozone investors were also reassured by comments from the European Central Bank's (ECB) chief economist, Philip Lane, in an interview with the business daily Les Echos, in which he warned that monetary policy should not remain too tight for too long.
Following last Friday's lacklustre purchasing managers' indexes, markets are increasingly expecting the ECB to accelerate its interest rate cuts, with a further easing of around 150 basis points expected by the end of next year.
Volatility - some indices, including the CAC 40, slipped into negative territory several times during the session - could nevertheless mark the rest of the week before the publication of a series of major indicators, including preliminary inflation data in Germany on Thursday and in France on Friday.
VALUES
In Paris, Thales and Dassault Aviation fell by 4.2% and 4% respectively after Kepler Cheuvreux lowered its recommendation on both stocks to "recommend".
French semiconductor materials supplier Soitec gained 15.7%, topping the SBF 120 index and extending its gains for a third consecutive day after first-half results reassured investors.
For its part, Atos soared 98.8% after announcing on Monday that it had once again entered into exclusive negotiations with the French government for the sale of some of its activities, this time on a smaller scale.
Amundi lost 5.5% as Unicredit's bid for all the shares in its rival Banco BPM raised doubts about the durability of the contract signed with the French asset manager for asset management in Italy until 2027.
Shares in Commerzbank, the group with which Italy's second-largest bank is also engaged in controversial negotiations, fell by 5% on the Frankfurt Stock Exchange, while in Milan, UniCredit gave up 4.7% and Banco BPM gained 5.4%.
European DIY retailer Kingfisher, which lowered its annual profit forecast on Monday, shed 13.2%.
ON WALL STREET
At closing time in Europe, the Dow Jones gained 0.69% and the Standard & Poor's 500 0.26%, both reaching intraday records. The Nasdaq Composite advanced by 0.38%.
Department store operator Macy's fell back 3.5% after delaying the publication of its third-quarter results due to an accounting problem.
INDICATORS OF THE DAY
German business sentiment fell more than expected in November, showed a survey by the Ifo institute published on Monday, in further bad news for a country expected to be the worst performer in the Group of Seven (G7) this year.
The business climate index stood at 85.7 in November, down from 86.5 in October, a figure which, according to Franziska Palmas, senior economist for Europe at Capital Economics, "confirms that the German economy remains in the doldrums".
RATES
Government bond yields retreated on Monday in the eurozone in the wake of falling yields in the US after President-elect Donald Trump announced he had chosen Scott Bessent as US Treasury Secretary, triggering a rally in US Treasuries.
The ten-year German Bund yield lost around 5 basis points to 2.2050%.
Across the Atlantic, the yield on ten-year Treasuries lost 10 basis points to 4.3023%. The two-year is down 6 basis points at 4.3091%.
Falling oil prices also weighed on yields, which are sensitive to inflation expectations and central bank rates, which are in turn heavily influenced by energy prices.
FOREIGN EXCHANGE
On the foreign exchange market, the dollar retreated after its recent rises, as the choice of US Treasury Secretary seemed to reassure the bond market about fiscal discipline, driving down yields and reducing the greenback's advantage.
The dollar lost 0.39% against a basket of reference currencies.
The euro, which was hit on Friday by the weakness of the continent's manufacturing PMI indices, took advantage of the situation to advance by 0.48% to $1.0467.
OIL
Oil prices retreated after US media outlet Axios reported on Monday that Israel and Lebanon had agreed on the terms of a ceasefire to end the conflict between Israel and Hezbollah. Israel's security council will meet on Tuesday to approve a ceasefire agreement in Lebanon, an Israeli official told Reuters on Monday.
Brent crude gave up 2.51% to $73.28 a barrel, while US light crude (West Texas Intermediate, WTI) dropped 2.81% to $69.25.
This drop in prices comes after the risk of supply disruptions from Iran and Russia had pushed up crude prices last week.
TO BE CONTINUED ON NOVEMBER 26:
The European Commission is due to deliver its opinion on member states' 2025 budgets on Tuesday.
(Some data may be slightly out of date).
(Written by Diana Mandiá, edited by Augustin Turpin)
by Diana Mandia
