The majority of European stock exchanges are posting gains. Banks and utilities top gains, up more than 3%
Most European stock exchanges are posting gains at this point in the session, recovering from the declines that guided the start of the session in many markets.
Stoxx 600 adds 1.23%, eliminating session start interruptions. Staying in the positive territory, the European index is heading towards its first “green” session in four days.
The rally in European stock markets is supported by a report from Bloomberg, which reports that the European Union is considering issuing bonds to finance the bloc’s energy and defense spending, in the context of the invasion of Ukraine.
Most of the sectors are trading higher except for the media sector which is down 1.16% and the basic resources sector which is down 1.03%. In the opposite direction, the banking sector leads the gains, up by 3.57%, while the utilities sector added 3.4%. Also note the increases in the retail sector (2.29%) and cars (2.15%).
PSI-20 adds up to 2.28%, while in Spain IBEX records the most expressive increase among European markets, rising by 3.51%. Germany’s DAX advanced 1.51%, France’s CAC 40 advanced 1.52%, and Britain’s FTSE advanced 0.45%. Amsterdam, on the other hand, is escaping this trend and is down 0.63%. The index in Milan rose by 3.24%.
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