European Shares Rise And Recovery Hopes Lift Banks And Mining Sectors

European shares rose to record levels today, as optimism about economic recovery from the Covid-19 pandemic led by the stimulus outweighed fears of global central banks tightening monetary policy earlier than expected.

The pan-European STOXX 600 index rose 0.1%, with gains led by shares that are sensitive to the economy, including banks, mining, and energy companies.

This group of stocks fell last week following signals from the Federal Reserve (the US central bank) that inflation is rising more than expected, but European Central Bank President Christine Lagarde allayed these fears on Monday by saying that there is a difference in conditions between the eurozone and the United States. .

This week, investors are awaiting a batch of Fed speakers to calm market volatility saying that the reaction to last week’s meeting was overblown.