Banks, energy stocks fuel rebound in European shares



(For a Reuters live blog on U.S., UK and European stock markets, click

or type LIVE/ in a news window)

* Construction & materials among worst hit sectors

* ECB's Lagarde reaffirms rate hike plans

* Renault jumps after Jefferies upgrade (Updates to close)

By Sruthi Shankar

June 20 (Reuters) - European stocks rose strongly on Monday after a sharp selloff last week on recession worries, while gains in French shares were capped after President Emmanuel Macron lost an absolute majority in the country's parliamentary election.

The pan-European STOXX 600 index .STOXX closed up 1.0%, with battered banking .SX7P , travel .SXTP and energy .SXEP stocks leading the gains, but volumes were crimped with U.S. markets closed for a holiday.

The benchmark shed 4.6% and hit over one-year lows last week in a global sell-off that was fuelled by worries about aggressive interest rate hikes by the U.S. Federal Reserve and other major central banks sparking a recession.

"Friday's options expiry and the lack of big central bank decisions might help equity bulls to wrench back control this week, even if only for a short while," said Chris Beauchamp, chief market analyst at online trading platform IG.

European Central Bank Chief Christine Lagarde on Monday reaffirmed plans to raise interest rates twice this summer, while fighting widening spreads in the borrowing costs of different euro zone countries.

France's blue-chip CAC 40 .FCHI rose 0.6%, the least among major regional indexes, after Emmanuel Macron's centrist Ensemble coalition secured the most seats in the National Assembly over the weekend but fell well short of securing an absolute majority needed to control parliament.

"It will mean that there will probably be less structural reforms but we're already underweight Europe and it does not significantly change our stance," said Willem Sels, global chief investment officer, private banking and wealth management at HSBC.

The STOXX 600 has shed almost 17% this year so far, as a cocktail of worries from soaring inflation to China's slowing economy and cost-of-living crisis in the UK dampen risk appetite.

"We'll continue to see some volatility because inflation, in our view, is not going to start to come down until the end of this year," Sels added.

Data showed German producer prices surged by a more-than-expected 33.6% in May, on a year-on-year basis.

Europe's construction and materials index .SXOP dropped 1.8% after Irish building insulation specialist Kingspan KSP.I said the mood in most end markets deteriorated resulting in a dip in orders over the last two months.

Kingspan's shares tumbled 11.4%, while Danish peer Rockwool ROCKb.CO and France's Saint-Gobain SGOB.PA fell around 4% each.

French carmaker Renault RENA.PA jumped 9.7% after Jefferies upgraded the stock to "Buy".

Valneva VLS.PA surged 29.3% after U.S. healthcare giant Pfizer PFE.N agreed to invest 90.5 million euros ($95.24 million) for an 8.1% stake in the French vaccine company.
Reporting by Sruthi Shankar and Susan Mathew in Bengaluru; Editing by Bernadette Baum

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明