European Stocks Rebound After Friday's Plunge

European stocks rebounded on Monday from Friday's selloff that was driven by worries over the new COVID-19 variant.

The FTSE 100 in the UK was up 0.9%, the Stoxx Europe 600 rose 0.8%, France's CAC 40 climbed 0.5% and Germany's DAX and the Swiss Market Index were both up 0.2% each.

The eurozone's final consumer confidence indicator fell 2 points in November to -6.8, compared with -4.8 in October, the European Commission said. The latest reading, which followed a smaller decline in October, confirmed the flash estimate.

The economic sentiment indicator for the euro area fell to 117.5 in November from 118.6 in October, according to data released by the European Commission. The latest reading was in line with a Trading Economics forecast of 117.5.

The differences between the UK and the EU's stance over the Northern Ireland trade deal are still "significant" even as negotiations continue, British Brexit Minister David Frost said in a tweet on Saturday. Frost noted that the UK is still prepared to trigger Article 16 if the parties fail to agree on a solution. Article 16 would allow Britain to unilaterally suspend parts of the protocol and could result in a trade war with the EU.

On the corporate front, French car parts group Faurecia EEO declined nearly 8% after it adjusted its sales and net cash flow guidance for 2021 following the downward revision of its European automotive production and additional costs. The company expects full-year sales to be in the range of 15 billion euros to 15.5 billion euros ($16.92 billion to $17.49 billion), compared with the previous guidance of 15.5 billion euros. The net cash flow is expected to be less than 300 million euros, compared with the previous forecast of about 500 million euros.