12:20 PM EDT, 08/19/2024 (MT Newswires) -- The European stock markets closed higher in Monday trading as the Stoxx Europe 600 rose 0.64%, the Swiss Market Index gained 0.71%, France's CAC increased 0.70%, the FTSE in London was up 0.55%, and Germany's DAX closed 0.58% higher.

In Germany, exports declined 1.6% to 801.7 billion euros ($885 billion) in H1 compared with the same period last year, according to the Federal Statistical Office. The FSO also reported that the total worth of goods imported in euros in H1 was 6.2% lower than in H1 of 2023.

And in corporate news, the UK's Financial Conduct Authority said Friday that it has fined PricewaterhouseCoopers, or PwC, 15 million British pounds ($19.5 million) for allegedly failing to report that it suspected London Capital & Finance, a firm it audited, might be involved in fraudulent activity. The FCA said the fine is the first one it has ever levied against an audit firm.

UK pharmaceutical company AstraZeneca and Daiichi Sankyo said Monday that Enhertu has been granted Breakthrough Therapy Designation by the US Food and Drug Administration to treat some breast cancer indications. Daiichi Sankyo was up 1% in Munich and AstraZeneca was fractionally up.

And Swedish telecommunications company Ericsson said Friday that it has agreed to sell its US subsidiary iconectiv to Koch Equity Development for about 10.6 billion Swedish kronor ($1 billion). Ericsson was down 0.2% in Stockholm.

Meanwhile, luxury goods stocks rallied on the European bourses as Kering and Louis Vuitton rose 2.5% in Paris, followed by Hermes International, which closed 1.5% higher, while Burberry gaining 4% in London.

Mining stocks were also trending higher as Glencore and Fresnillo were up more than 2% each, followed by Anglo American and Rio Tinto which gained 2% and 1.7% respectively, while ArcelorMittal rose 2.3% in Amsterdam.