European shares rose for a third straight session on Tuesday, boosted by chemical and commodity sectors, after last week’s brutal sell-off on recession fears attracted bargain hunters.
The pan-European STOXX 600 index closed up 0.35% at 408.58 points after hitting a more than one-year low last week.
Miners gained 1.3% after hitting lows in December 2021 in the previous session, while oil and gas shares advanced 1.1% as oil prices rose on tight supply.
Boosting chemical shares, French industrial gas company Air Liquide rose 3.1% after closing its biggest power purchase deal with Sweden’s Vattenfall.
Still, concerns about growth persisted after an industry body warned that Germany – the region’s economic powerhouse – will face recession if already unstable Russian gas supplies stop completely. Italy said it would consider offering financial support to help companies replenish gas storage to avoid a deeper winter crisis in the northern hemisphere.
- In London, the Financial Times index advanced 0.42%, to 7,152.05 points;
- In Frankfurt, the DAX index rose 0.20% to 13,292.40 points;
- In Paris, the CAC-40 index gained 0.75% to 5,964.66 points;
- In Milan, the Ftse/Mib index appreciated by 0.39%, at 22,089.41 points;
- In Madrid, the Ibex-35 index registered a drop of 0.61%, at 8,235.60 points;
- In Lisbon, the PSI20 index depreciated by 0.79%, to 5,952.54 points.
Source: CNN Brasil
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