Utilities And Telecommunications Support European Shares

European shares rose on Tuesday, June 8, boosted by utilities and telecoms companies, but weak German industrial output and doubts about a UK lifting of restrictions later this month capped gains.

The European Stoxx600 index rose 0.2% by euro morning, holding below its highest level ever, while sectors considered more stable such as utilities, real estate and communications led the gains.

And data revealed that German industrial output unexpectedly fell in April, in another indication that semiconductor shortages and other supply bottlenecks are negatively impacting the recovery of Europe’s largest economy.

Auto stocks fell 0.8%, after a six-day rally that brought the index near a record peak.