LONDON (AP) — European stocks rose Tuesday as global markets appeared to recover from a sell-off in recent days, fueled mainly by concerns about inflation and rising interest rates, and the potential for a recession. global.
the pan-european Stoxx 600 added 0.9% in early trading, with construction and materials stocks rising 2.3% to lead gains as most sectors and major bourses entered positive territory. Health care stocks fell 0.5%.
Positive trade in Europe comes after regional markets fell to two-month lows on Monday as global investors fled risky assets en masse due to fears over inflation.
The liquidation was not limited to Europe, with american stocks also falling sharply, pushing the S&P 500 above the 4,000 level for the first time in over a year.
Monday’s moves came as Wall Street experienced an erratic week, with surprising daily swings as investors weighed the prospects of rising interest rates against the potential for slower economic growth.
Gains in Europe on Tuesday came from Bayer, Munich Re, Pirelli and Salvatore Ferragamo.
In terms of the price movement of individual shares, party in swedish rose 24% to an all-time high after the nicotine products company confirmed on Monday that it had received a takeover offer from the tobacco giant Phillip Morris.
On the data front, Germany’s ZEW institute will release its economic sentiment index for May.