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European shares hit over 1-week highs as Omicron worries fade -Breaking

by Mike Robinson

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© Reuters. The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany. It was taken December 6, 2021. REUTERS/Staff

(Reuters) – European stocks rose to their highest level in over a week on Tuesday, with technology shares seeing a rebound as concerns about Omicron coronavirus variant ebbed while miners jumped following China’s loosening of its monetary policies.

At 0827 GMT the index rose 1.4% across continents. After hitting seven week lows Monday, technology stocks rose 3.1% amid wider selling of high-growth companies.

After China’s central banking reduced the cash reserves banks are required to keep in reserve, the Chinese central bank raised metal prices hoping for an economic boost. [MET/L]

Stellantis Carmaker advanced 2% in relation to plans to earn around 4 Billion Euros ($4.52 Billon) additional revenue through 2026, and about 20 Billion euros from software products by 2030.

Worldline rose 2.6% following Eurobank’s agreement to sell 80% to French payments company in order to increase its capital base.

Defensive sectors such as utilities, telecoms and food & beverages were among the smallest gainers.

($1 = 0.8858 euros)

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