European stocks rose on Monday, as global markets reacted to the U.S. ousting of Venezuelan President Nicolas Maduro.
The pan-European STOXX 600 index rose 0.5% to 599.58 points.
Britain’s FTSE index rose 0.3% to 9983.33 points, while France’s CAC 40 index climbed about 0.7% to 8251.94 points, and Germany’s DAX index rose about 0.8% to 24740.93 points.
Global financial and oil markets reacted to the dramatic developments in Venezuela over the weekend, after the United States launched strikes on the Latin American country and arrested President Nicolas Maduro and his wife, Cilia Flores.
Maduro and Flores were flown to New York following the operation on Saturday, and were charged with drug trafficking.
US President Donald Trump said at a press conference on Saturday that the United States would manage Venezuela until we can carry out a safe, sound, and well-considered transition.
However, U.S. Secretary of State Marco Rubio appeared to backtrack on these statements on Sunday, indicating that Washington would use its influence to achieve political goals, without mentioning that the United States would take direct control of Venezuela.
European defensive stocks were among the biggest gainers in trading on Monday.
Shares in Rheinmetall rose 6.8%, Leonardo gained 6.2%, Hensault AG climbed 5.2%, and Rink advanced 4.5%. Overall, the Stoxx Europe Aerospace and Defense index rose by more than 2.5%.
Among other notable companies, Swiss industrial valve manufacturer VAT Group led morning trading with an 8.7% gain, while British chemical products, active pharmaceutical ingredients and battery technologies company Johnson Matthey added 7.6%.
Oil prices rose on Monday as investors assessed the impact of Maduro's ouster on oil shipments from Venezuela, even though the country's production is only about 1 million barrels per day.
Asia-Pacific markets traded higher overnight, while U.S. stock futures were steady, as traders monitored developments in the event.
