European shares edge higher after brutal selloff last week
European shares edged higher on Monday, boosted by energy firms, after a bruising selloff last week sparked by growing fears of a recession as major central banks promised more interest rate hikes ahead.
The region-wide STOXX 600 index was up 0.5% at 0805 GMT.
Among the major sectors, energy stocks (.SXEP) jumped 1.8%, spear-heading gains, as oil prices were supported by prospects of recovery in demand from top consumer China after the country relaxed several strict COVID-19 control measures.
Tech stocks (.SX8P) and miners (.SXPP), among the worst hit sectors last week, rose 0.6% and 0.8% respectively.
Among individual companies, Freenet AG rose 3.2% after Deutsche Bank raised its rating on the German-based telecom provider's stock to "buy" from "hold."
The region-wide STOXX 600 index was up 0.5% at 0805 GMT.
Among the major sectors, energy stocks (.SXEP) jumped 1.8%, spear-heading gains, as oil prices were supported by prospects of recovery in demand from top consumer China after the country relaxed several strict COVID-19 control measures.
Tech stocks (.SX8P) and miners (.SXPP), among the worst hit sectors last week, rose 0.6% and 0.8% respectively.
Among individual companies, Freenet AG rose 3.2% after Deutsche Bank raised its rating on the German-based telecom provider's stock to "buy" from "hold."
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