December 7, 2022

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European markets rally as global stocks eye recovery;  Swedish Matching 24%

European markets rally as global stocks eye recovery; Swedish Matching 24%

LONDON – European shares rose on Tuesday as global markets looked to rebound from a broad sell-off in recent days, driven mainly by concerns about inflation and rising interest rates – and the possibility of a global recession.

pan europe Stokes 600 It added 0.9% in early trading, with construction and materials stocks advancing 2.3% to lead the gains as most major sectors and stock exchanges entered positive territory. Healthcare stocks fell 0.5%.

Positive trade in Europe comes after regional markets It fell to a two-month low on Monday Global investors have fled risky assets en masse due to inflation concerns.

Sales were not limited to Europe US stocks It also fell sharply, sending the S&P 500 index to breach the 4,000 level for the first time in more than a year.

Monday’s moves came as Wall Street saw volatility last week, with eye-catching daily volatility as investors weigh the prospects of higher interest rates against the prospect of slowing economic growth.

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Earnings in Europe on Tuesday came from Bayer, Munich Re, Pirelli and Salvatore Ferragamo.

In terms of individual stock price movement, Swedish Match 24% jumped to a record after the nicotine products company confirmed on Monday that it had received an acquisition approach from the tobacco giant Philip Morris.

On the data front, Germany’s ZEW Institute is due to publish its May Economic Sentiment Index.

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