European shares show signs of recovery as Fed meeting awaited



(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* STOXX 600 clocks best day in nearly two months

* Energy, travel, mining stocks lead gains

* Markets await Fed update at 1900 GMT

* Essity shares slip as profit tumbles

By Anisha Sircar and Shreyashi Sanyal

Jan 26 (Reuters) - European shares extended gains to record their best session since early December on Wednesday as recently bruised energy, travel and technology stocks recovered ahead of a U.S. Federal Reserve monetary policy meeting.

The pan-European STOXX 600 .STOXX rose 1.7%, with all sectors in positive territory, marking the second straight session of gains after it fell by about 4% on Monday.

After being hit by concerns over conflict in Ukraine, oil & gas .SXEP stocks rose 4.0%, their best day since November 2020 and leading gains, alongside travel .SXTP and miners .SXPP .

"Geopolitical tensions have resulted in a trimming of gains, but overall a wave of buying has swept over markets today," Chris Beauchamp, chief market analyst at online trading platform IG, said.

Technology stocks .SX8P , representing many of Europe's growth-oriented firms, also bounced after coming under pressure from expectations of a hawkish Fed stance.

The U.S. central bank will update its interest rate plan at 1900 GMT after a two-day meeting, with markets priced for a first rate hike in March and three more quarter-point increases by the end of the year.

"We expect the Fed to be clear about raising rates in March, and once we get past that, markets might be more reassured," said Nick Nelson, head of European equity strategy at UBS, adding that the focus would soon turn to fourth-quarter earnings in Europe, which are also set to be positive for markets.

Italian fashion group Tod's TOD.MI jumped 15.8% after sales rose by nearly 40% last year, its first increase after five years of declines and beating market forecasts.

Hygiene products group Essity ESSITYb.ST fell 6%, after posting a bigger-than-expected fall in quarterly profit and saying it planned to raise prices further in the face of record high costs.

Italy's biggest debt recovery firm doValue DOVA.MI gained 2.8% after saying it would aim to keep the amount of loans it manages stable at 160 billion euros ($181 billion) to the end of 2024.

BioNTech SE 22UAy.F gained 6.3% after the company and Pfizer PFE.N said that they had started a clinical trial to test a new version of their vaccine specifically designed to target the COVID-19 Omicron variant.
Reporting by Anisha Sircar and Shreyashi Sanyal in Bengaluru; Editing by Rashmi Aich, Subhranshu Sahu and Alexander Smith

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.