European shares soar, led by energy and retail companies

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European stocks jumped on Friday, led by gains in the energy and retail sectors after the US Federal Reserve said there would be no imminent move to tighten monetary policy, easing concerns about high inflation in the United States, which pushed the European STOXX 600 index to incur losses throughout the week. .

The STOXX 600 increased 1.1 percent today, led by gains in the oil, gas and retail sectors.

But the benchmark index lost 0.5 percent in the week’s transactions, amid a rise in commodity prices and signs of an acceleration in US inflation, which fueled fears of a faster-than-expected increase in the Fed’s benefit, according to “Reuters”.

However, sentiment improved after reassurances from the Reserve Board regarding monetary policy, and saying that it would not be in a hurry to reduce the liquidity injection that supports the financial markets.

While price increases are not a big problem in the Eurozone, investors have drawn the trend from the US market for most of the week. But analysts say Europe remains attractive to global investors.

“We look at valuing markets, and valuations have been in Europe’s favor for a number of years because they are more economically sensitive,” said Jeffrey Germain, investment group director at Brandis Investment Partners. The French group Danone Food Industries fell 0.3 percent after Goldman Sachs cut its recommendation for the stock to “sell”, saying that negative demographic factors, especially in China, were pressuring its activities in the field of specialty food.

Atlantia fell 0.2 percent after the Italian infrastructure group reported a first-quarter net loss and confirmed it would make a decision to sell its stake in its Autostrade highway unit by June 11.





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