London – European shares rose on Monday, continuing the positive trend seen at the end of last week’s trading.
pan europe Stokes 600 The index added 1.1%% in early trading, with core resources jumping 3.7% to lead the gains with all major sectors and stock exchanges entering positive territory.
Regarding the movement of individual stock prices, Dutch tech investor Prosus jumped more than 11% after announcing a plan to gradually sell his 28.9% stake in Chinese software giant Tencent.
Monday’s high trade comes after the European leading stock index closed 2.6% higher last Friday, marking its best day in more than three months.
But despite the positive end to the trading week, last week was marked by more choppy trading as investors weighed the risks posed by rising inflation and fears of a recession.
Central banks around the world have already taken steps to combat inflation that has been driven by rising energy and food costs, spurred in large part by the war in Ukraine.
The prospect of even sharper interest rate tightening by central banks has spooked markets and raised fears of a recession, leading to US Federal Reserve That’s a “possibility”, Chairman Jerome Powell told Congress last week as he emphasized that the central bank is too Firmly committed to lowering inflation.
Elsewhere on Monday, investors will be looking for more updates from the G7 summit. US President Joe Biden joined the leaders of the world’s richest democracies, including Canada, the United Kingdom, Germany, France, Italy and Japan, for the three-day summit starting on Sunday with Ukraine and the global economy high on the agenda.
As the G7 leaders meet in Germany, the Ukrainian capital, Kyiv, is once again hit by Russian missile strikes, several months after Russian forces withdrew from the city to focus on eastern Ukraine, where they have made significant progress in recent weeks.
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