European Shares Climb Amid Tech Sector Uncertainty

European shares experienced an uptick on Monday, driven by a global equities rebound following last week's selloff. Investors are closely watching earnings reports from Italian lender UniCredit and developments within the mergers and acquisitions sector.

The pan-European STOXX 600 index climbed by 0.5%, reaching 620.12 points, as of 0809 GMT. Global equities are on a recovery path after volatility sparked concerns that advances in artificial intelligence could disrupt traditional software industries. Despite uncertainties, major tech companies like Alphabet and Amazon.com continue to set ambitious development goals for AI.

Technology stocks gained 1% on Monday, bolstering the STOXX index's weekly performance. In M&A news, Advent and FedEx's consortium agreed to acquire InPost for $9.2 billion, boosting shares of the Polish firm by 13.3%. Additionally, Novo Nordisk shares surged 8.2% after Hims & Hers discontinued its GLP-1 pill due to U.S. FDA warnings, and UniCredit shares increased 4.3% as it projected profits of 11 billion euros for the year.