European Shares Climb Amid Positive Economic Indicators
European stocks rose as investors awaited U.S. inflation data to gauge monetary policy direction. The STOXX 600 index gained 0.3%, driven by oil, gas, and financial stocks. Key economic data from the U.S. and Europe will shape market sentiment. Reduced liquidity in August might lead to volatility.
European shares kicked off the week on a high note, with investors anticipating pivotal U.S. inflation data that could clarify the Federal Reserve's monetary policy direction, along with critical data from across Europe.
The STOXX 600 index rose by 0.3%, showing a broad-based upward trend across European markets. Oil and gas stocks climbed 0.7%, supported by rising oil prices and diminished recession worries in the United States, as well as geopolitical tensions in the Middle East.
Financials also grew by 0.7%, with Hannover Re leading the sector with a near 5% surge following strong first-half results. Investors are closely watching U.S. consumer price data due on Wednesday, which will significantly influence global monetary policy. The previous week's sudden market selloff, caused by recession fears, was tempered by surprisingly strong U.S. jobs data.
(With inputs from agencies.)
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