Banks and energy sector boost European stock market recovery

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European shares rose sharply on Monday after a sharp drop last week on concerns of a recession, with the French stock market posting more limited gains after President Emmanuel Macron lost an absolute majority in the country’s parliamentary elections. .

The pan-European STOXX 600 index closed up 0.96% at 407.14 points. Banking, travel and energy stocks led the gains, but trading volumes were reduced due to a US holiday, which kept US markets closed.

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The European benchmark index tumbled 4.6% and hit a more than a year low last week, in a global sell-off that was fueled by concerns about aggressive rate hikes by the Federal Reserve and other major central banks that could trigger a recession.

“Friday’s options expiration and lack of major central bank decisions could help bullish equities regain control this week, if only for a short period,” said Chris Beauchamp, chief analyst. market share of the IG platform.

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France’s stock index was the lowest among its major regional peers after Emmanuel Macron’s centrist coalition secured the most seats in the National Assembly over the weekend but fell far short of securing the absolute majority needed to control the country. Parliament.

  • In London, the Financial Times index advanced 1.50%, to 7,121.81 points;
  • In Frankfurt, the DAX index rose 1.06% to 13,265.60 points;
  • In Paris, the CAC-40 index gained 0.64% to 5,920.09 points;
  • In Milan, the Ftse/Mib index appreciated by 0.99%, at 22,004.05 points;
  • In Madrid, the Ibex-35 index registered an increase of 1.72%, to 8,286.00 points;
  • In Lisoba, the PSI20 index rose by 2.01%, to 5,999.87 points.

Source: CNN Brasil

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