European indexes extended their rising streak for a fifth straight session on Tuesday, against concerns about the risk of a recession in the Eurozone due to global monetary tightening aimed at curbing inflation.
The pan-European STOXX 600 index ended with a small gain of 0.2% at a new 10-week high of 443.07 points.
The mining sector led the rise with a 3.2% jump, boosted by mining giant BHP Group’s 5.5% rally after reporting impressive results for the latest quarter.
Germany’s DAX rose 0.7% to 13,910.12 despite disappointing macros. German investment sentiment eased slightly in August on concerns that rising living costs will hurt private consumption in Europe’s biggest economy, which is teetering on the brink of recession.
Economic research institute ZEW said on Tuesday that its economic sentiment index fell to -55.3 points from -53.8 in July. A Reuters poll estimated for August a reading of -53.8 points.
Separate data showed the Eurozone swung into a trade deficit in June from a surplus a year earlier, due to a surge in the prices of imported natural gas and oil.
France’s CAC 40 rose 0.3% to 6,592.58 points, while Britain’s FTSE 100 gained 0.4% to 7,536.06 points.
In the region, Italy’s FTSE MIB closed with small gains of 0.1%, while Spain’s IBEX 35 rose 1%.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
