Doha: European stocks closed higher monday supported by gains in technology-focused shares, thanks to growing expectations of a US interest rate cut next month.

According to Qatar News Agency, the pan-European Stoxx 600 index rose 0.31 percent to 563.83 points, after posting its biggest weekly decline since late July last Friday. Technology stocks climbed 1.4 percent after a sharp drop in the previous session, with artificial intelligence companies leading the gains. Shares of chipmaker ASML jumped 3.1 percent, Infineon rose 3 percent, and Siemens Energy surged 5.5 percent after plunging 10.1 percent on Friday.

Meanwhile, European defense stocks continued their sell-off today, falling 2.1 percent amid talks between Washington and Kyiv in Switzerland aimed at ending Russia's war in Ukraine. Shares of prominent defense companies such as Rinke, Rheinmetall, Hensoldt, and SAP fell between 4.3 percent and 5.6 percent.

However, Bayer shares jumped 9.3 percent, topping the Stoxx 600 index, after preliminary clinical trial results boosted one of the company's key cardiovascular drugs. Novo Nordisk shares plunged 5.8 percent, their worst daily performance since October 17, after disappointing results from a trial of an Alzheimer's drug.