Upward reaction in the European markets after the heavy losses on Monday

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European stocks closed higher on Tuesday after heavy losses on Monday amid worries about an aggressive cycle of interest rate hikes by central banks to tackle rising inflation.

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On the board, the pan-European STOXX 600 index strengthened by 0.8% to 483.08 points.

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The index fell 1.5% yesterday in the worst session of the last month and a half amid a new rally of bond yields in the US and Europe as investors expect interest rate hikes on both sides of the Atlantic to ease inflationary pressures.

The technology sector led the rise today, jumping 1.9% after total losses of almost 8% in the last seven sessions.

In the individual boards, the German DAX strengthened 1.1% to 15,941.81 points, the French CAC 40 rose 0.95% to 7,183.38 points, while the British FTSE 100 closed with lower gains of 0.6% to 7,491, 37 units.

In the region, the Italian FTSE MIB strengthened 0.7%, while the Spanish IBEX 35 gained 0.6%.

At macro day, retail sales in Italy fell in November, signaling that consumer spending was weakening in the wake of rising coronavirus cases due to Omicron. Retail sales fell 0.4% after rising three months ago, according to statistics from Istat.

In addition, industrial production in Spain rose sharply in November after falling last month, a sign that factory activity strengthened in the middle of the fourth quarter. Industrial production rose 4.5% in November on a monthly, calendar and seasonally adjusted basis.

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