Major European stock indices have posted gains of 0.2-0.75%. The STOXX Europe 600 Index, the composite indicator of the region, added 0.35%. Germany's DAX showed minor growth of just 0.2%, while the French CAC 40 demonstrated the biggest gain of 0.75%. The UK's FTSE 100 rose by 0.42%, followed by Italy's FTSE MIB, which advanced by 0.39%. Meanwhile, Spain's IBEX 35 lost 0.61%.
At the beginning of the week, the demand for stocks recovered after a sharp drop in the previous weekly session. Shares have become more attractive for investing, and traders are taking advantage of this. As a result, the US dollar is losing ground, while major US indices are moving up by 2-3%. At the same time, the outlook for the stock market remains gloomy despite a good start to the week.
Previously, a decline in the stock market was caused by aggressive rate hikes and monetary tightening implemented by global central banks. Investors fear that such tough measures could lead to a slowdown in economic growth.
Market participants also monitor the results of parliamentary elections in France and the strike of railway and subway workers in the UK.
Among the components of the STOXX Europe 600 Index, the following companies were the top performers: Wartsila Oyj, which gained 7.3%, Neste Oyj, which added 5%, and Nokian Renkaat Oyj, which rose by 4.9%.
EasyJet Plc shares tumbled by 6.3% right after the reports about an upcoming strike. The company also said it was buying 74 new aircraft from Airbus SE for approximately $6.5 billion.
The securities of Air Liquide S.A. gained 3% after the company had signed an agreement with Vattenfall for the construction of an offshore wind farm.
Valneva SE stocks surged by 18% when it was announced that Pfizer Inc. would acquire an 8.1% stake in the company for $95 million.
