Europe open: Stoxx gains despite US shutdown fears

26th Jan 2026 07:55

(Sharecast News) - European shares defied pre-market expectations and made early gains on Monday, despite fears of another US government shutdown amid domestic turmoil over the weekend when federal immigration officers shot and killed a US citizen.

The pan-regional Stoxx 600 index was up 0.11% at 609 points by 0826 GMT. All other major bourses were higher, with Germany's DAX climbing 0.17% and the mining-heavy FTSE 100 rising 0.2% as the price of gold pushed beyond $5,100.

Gold futures were up 2.2% at $5,126.76 an ounce as investors continued to flock to safe haven assets. Silver prices, which recently breached $100 for the first time, were also higher, up nearly 6% at $106.61 an ounce.

Investors were once again keeping an eye on the US, where tensions were inflamed over the killing of an American citizen in Minnesota by immigration agents.

Several videos of the shooting contested Washington's claims that the dead man had drawn a handgun he was reportedly permitted to carry before killing him.

Senate Democrats have been urged to vote against funding the US Department of Homeland Security, which oversees the Immigration and Customs Enforcement agency and border patrol, during budget negotiations in the coming days, prompting fears of another Federal shutdown less than three months after the last one.

US relations with Canada were once again in focus as President Donald Trump threatened his northern neighbour with 100% tariffs if it struck a free trade deal with China.

Canadian Prime Minister Mark Carney on Sunday said he had no intention of doing so.

There was little corporate news to drive sentiment, but traders were looking ahead to the US Federal Reserve's first interest rate decision of the year on Wednesday. Policy makers are expected to stand pat, but their comments on the state of the economy will be scrutinised for any hints on possible cuts.

Fresnillo and Antofagasta both gained on the surging gold price.

Reporting by Frank Prenesti for Sharecast.com