European stocks rose on the first day of June to new heights, with mining, oil and bank shares advancing.
In late-morning trade, the Stoxx Europe 600 SXXP, +1.09% rose 1.1%, putting the index on track to lodge a fresh record high. The FTSE 100 UKX, +1.31% added 1.2% after a three-day break.
U.S. stock futures ES00, +0.45% also rose after a three-day break, ahead of the release of a key manufacturing report.
The gains came with crude-oil futures CL.1, +2.71% reaching the highest level in more than two years, ahead of the OPEC+ production meeting. Eurostat reported that May consumer prices rose 2% year-over-year, due to rising energy prices.
The Stoxx Europe 600 rose 2% in May, its fourth consecutive monthly rise. By style, value had the best May, with the S&P Europe 350 enhanced value index rising 5%.
Of stocks in the spotlight, Porsche Automobil Holding PAH3, +4.26% rose 4%, as speculation continued that the luxury automobile maker would be separately listed. Porsche Automobil Holdings holds 53% of Volkswagen VOW3, +2.50%, which controls Porsche AG, the company that makes the Porsche 911 sports car.
CD Projekt CDR, -5.51% shares tumbled 8%, as the Warsaw-listed videogame maker reported a worse-than-forecast 65% drop in profit, weighed down by the troubled launch of “Cyberpunk 2077,” which currently is being blocked from the Sony PlayStation store due to bugs.