European Stocks: European stocks rise in early trading, several car stocks perform well, Philips declines by 6%

European stocks generally rose in the early session, as market expectations for a Federal Reserve interest rate cut intensified, driving global stock markets higher. Investors continue to watch the ceasefire negotiations between Russia and Ukraine.

The pan-European STOXX 600 index rose by 1.42 points or 0.2%, closing at 577.64 points. The UK FTSE 100 index fell by 9 points or 0.1%, closing at 9,682 points; the French CAC 40 index rose by 23 points or 0.3%, closing at 8,111 points; the German DAX index rose by 155 points or 0.7%, closing at 23,849 points; the Spanish IBEX 35 index rose by 49 points or 0.3%, closing at 16,635 points; the Italian FTSE MIB index rose by 7 points, closing at 43,387 points.

Health technology stock Philips fell by 6%. Spanish fast fashion clothing stock Inditex continued to rise by 2.2%. Several European automotive stocks rose, with Geely up 3.8%, Mercedes-Benz and Renault each up 3.3%, and BMW and Volkswagen rising over 3%. Chip stock STMicroelectronics also rose by 3.1%.

In U.S. stock futures, Dow futures rose by 17 points, closing at 47,971 points; S&P 500 futures fell by 7 points, closing at 6,855 points; Nasdaq 100 futures fell by 49 points, closing at 25,608 points.

In the Asia-Pacific stock market, Shanghai stocks fell by less than 0.1%, while Shenzhen stocks rose by 0.4%. The Hong Kong Hang Seng Index rose by 175 points or 0.7%, closing at 25,935 points, with a turnover of 179.3 billion HKD. Taiwan stocks remained stable with a slight increase. Japanese stocks rose by 2.3%. South Korean stocks fell by 0.2%. Australian stocks rose by 0.3%, while New Zealand stocks fell by 0.5%. India's Nifty 50 index fell by 10 points or less than 0.1%, closing at 25,975 points. The Singapore Straits Times Index fell by 16 points or 0.4%, closing at 4,537 points. Malaysian and Philippine stock markets fell by 0.3%, Indonesian stocks rose by less than 0.1%, Thai stocks remained flat, and the Vietnamese markets in Hanoi and Ho Chi Minh City rose by 1% and 0.3%, respectively