European shares rose on Monday, led by automakers and defensive sectors, with hopes of a Russia-Ukraine peace deal boosting sentiment, while falling oil prices put pressure on the commodity’s shares.
The pan-European STOXX 600 index closed up 0.14% at 454.17 points.
The index is about 8% off the record high it reached in early January. European automakers and cyclical sectors, which include utilities and construction stocks, led the gains.
Settlement in eurozone bond markets showed no signs of slowing down, with traders even pricing in up to four rate hikes by the European Central Bank within a year.
Meanwhile, oil prices fell by more than $9 a barrel after China’s financial hub Shanghai established a two-stage lockdown to stem the jump in Covid-19 infections. Oil shares fell 2.1% to record their worst session in nearly four weeks.
- In London, the Financial Times index dropped 0.14%, to 7,473.14 points;
- In Frankfurt, the DAX index rose 0.78% to 14,417.37 points;
- In Paris, the CAC-40 index gained 0.54% to 6,589.11 points;
- In Milan, the Ftse/Mib index appreciated by 0.63%, at 24,712.60 points;
- In Madrid, the Ibex-35 index registered an increase of 0.42%, to 8,365.60 points;
- In Lisbon, the PSI20 index rose by 0.96%, to 5,904.99 points.
Source: CNN Brasil
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