European stocks are rising after a strong sell-off last week

European stocks rose on Monday, supported by energy companies, after a heavy sell-off last week sparked by growing recession fears as major central banks pledged more interest rate hikes in the future.

The pan-European Stoxx 600 index was up 0.5 percent by 0805 GMT.

On Friday, the index recorded its worst week since September after the Federal Reserve and European Central Bank stuck to tightening monetary policy.

Among the major sectors, energy shares jumped 1.8 percent, as oil prices received support from prospects for demand recovery from China, the main consumer of crude, after the country eased many of the strict control measures related to combating the Corona virus.

Technology stocks and the mining sector, which were among the hardest hit sectors last week, rose 0.6 percent and 0.8 percent, respectively.