European shares rise in first trading session of 2023

0 19

The pan-regional STOXX 600 was up 0.5% by 0810 GMT, supported by rate-sensitive technology stocks. The energy sector added 0.8%.

The STOXX 600 ended 2022 with heavy losses, driven by the tightening of aggressive central bank policy to curb rising prices, the economic slowdown, the war between Russia and Ukraine which added to inflationary pressures and growing concerns about COVID cases in China.

Germany’s finance minister expects inflation in Europe’s biggest economy to fall to 7% this year and to continue to decline in 2024 and beyond, but he expects high energy prices they will be the new normal.

The German benchmark DAX added 0.5%.

The London and Dublin stock exchanges will be closed for New Year’s Day, while other European stock exchanges started the year on a positive note.

Croatia rang in the new year with two historic changes, as the smallest member of the European Union joined both the borderless Schengen area of ​​the EU and the common euro currency.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Vinay Dwivedi)

Leave A Reply

Your email address will not be published.