European shares rose in the first trading session of 2023 on Monday, as data on euro zone industry suggested the worst was over after a year marked by fears of a recession, as central banks interest rates rose around the world.
The pan-European STOXX 600 index closed up 1.08% at 429.49 points, supported by consumer discretionary stocks.
Autos and parts gained 3.2% and luxury names such as LVMH and Kering were up about 2% each.
A slowdown in euro zone manufacturing activity is likely to be behind us as supply chains start to recover and inflationary pressures ease, the Purchasing Managers’ Index (PMI) survey showed on Monday. .
The STOXX 600 ended 2022 with sharp losses amid aggressive tightening of monetary policy by central banks to contain rising prices, an economic slowdown, the Russia-Ukraine conflict that has fueled inflationary pressures and growing concerns about Covid-19 cases. in China.
- In LONDON, the Financial Times Index had no trades.
- In FRANKFURT, the DAX index rose 1.05% to 14,069.26 points.
- In PARIS, the CAC-40 index gained 1.87%, at 6,594.57 points.
- In MILAN, the Ftse/Mib index appreciated by 1.90%, to 24,158.28 points.
- In MADRID, the Ibex-35 index registered an increase of 1.71%, to 8,369.70 points.
- In LISBON, the PSI20 index appreciated by 1.80%, to 5,829.15 points.
Source: CNN Brasil
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