Recovery optimism lifts European shares, technology sector jumps | market talk


European shares rose Thursday, June 24th, as investors focused on a steady economic recovery on fears of waning global monetary stimulus, while technology shares jumped, tracking their US counterparts.

The pan-European Stoxx 600 index rose 0.9%, as technology, retail and travel and leisure stocks were among the top gainers.

Technology shares jumped 1.7%, tracking the gains of the US Nasdaq index, which is heavily weighted by technology stocks.

The Stoxx 600 index witnessed sharp fluctuations this week, with losses on Wednesday that almost wiped out the gains made from the previous two days, as conflicting messages from the US Federal Reserve left investors in a state of uncertainty about the central banks’ approach to reducing their massive stimulus in the face of high inflation. .

But with the European Central Bank tightening its accommodative stance on monetary policy earlier this month, analysts say they do not expect European stocks to continue falling.

German shares rose 0.9%, as data showed that the business climate index rose more than expected in June and reached its highest level since November 2018.

The FTSE 100 index in London rose 0.6%, while the index of medium-capital companies fell 0.5%.


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