Industrials, banks lift European shares as reflation trade heats up

by in FashionClothing on December 10, 2021

June 29 (Reuters) – A jump in industrial, country duets 2001 financial and mining stocks lifted European shares on Tuesday as investors bought into sectors set to benefit from a steady economic recovery, while France’s Rexel rose on lifting its 2021 sales forecast.

The French electrical parts supplier’s shares jumped 3.4% to the top of the STOXX 600 and said it expected same-day sales growth of between 12% and 15%, compared with its previous forecast of between 5% and 7%.

The pan-European STOXX 600 was up 0.5%, with industrials, banks and miners gaining between 0.4% and new balance shoes fort worth 0.7%.

Optimism around a steady economic recovery has put the European benchmark on course for its fifth straight month of gains, emperor duvets and covers but it has recently struggled to break above its all-time closing high hit on June 16 on concerns of the global spread of the Delta variant of the coronavirus.

Still, travel-related stocks recovered on Tuesday after sliding to a one-month low in the previous session following reports of a potential ban on UK travellers in Germany.

London’s domestically focussed FTSE 250 index was up 0.3%, while housebuilders jumped 1.1% as data on Tuesday showed British house prices jumped by the most in more than 16 years in June.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta)

Categories: FashionClothing