Stock Groups

European shares bounce after volatile week -Breaking

by Mike Robinson

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© Reuters. The German share price graph DAX can be seen at Frankfurt’s stock exchange on December 3, 2021. REUTERS/Staff

(Reuters) – The rebound in European stock markets on Monday was aided by oil stocks. This follows sharp losses that occurred late last week due to fears regarding the Omicron derivative and U.S. monetary outlook.

At 0818 GMT, the pan-European grew 0.7% while the Energy sector gained 1.4%. Prices for oil rose to $1/barrel after Saudi Arabia, the top exporter, increased crude prices for Asia and the United States. [O/R]

Omicron’s concerns were eased by the statement of a South African health official that Omicron caused mild infections. Anthony Fauci, top U.S. infectious-disease official, said to CNN over the weekend “it doesn’t seem like there’s a large degree of severity.”

Saint-Gobain, a French construction material company, rose 1% in shares after it announced that it would acquire all U.S.-based GCP Applied Technologies’ (NYSE:) shares. The deal is valued at approximately $2.3 billion.

Just Eat Takeaway.com dropped 3.3% after Bernstein reduced the stock’s market performance to “market perform”, Deutsche Bank After J.P. Morgan upgraded stock to “overweight”, (DE:) gained 2.9%

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