Mining and travel stocks support European stock exchanges amid bets on recovery

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Shares in sensitive sectors of the economy such as mining, travel and energy led the gains in European stocks on Tuesday, outperforming British stocks after a long weekend.

The pan-European STOXX 600 index rose 0.4%, the German DAX advanced 0.2%, and the British FTSE 100 index rose 0.8%.

The travel and entertainment sector gained 1.3 percent, the largest increase in Europe, taking advantage of Britain’s expectations to announce a green list of countries whose citizens can travel to for holidays.

The mining, oil and gas sectors also rose by more than 1 percent, with expectations of a strong economic recovery thanks to massive vaccination programs in developed countries and unprecedented stimulus.

Technology stocks ran into trouble after their peers came under pressure on Wall Street on Monday.

Dassault aircraft company jumped 5.2 percent after the Egyptian Ministry of Defense announced that it had signed a contract with France to buy 30 Rafale fighters.

(Source: cnbcarabia)







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