(RTTNews) – European equities recovered on Monday, as expectations of a faster economic recovery and stimulus hopes helped investors forget about inflationary fears.
The euro domain production PMI ended at a three-year high of 57. 9 in February, up from 54. 8 in January, adding to optimism about the economic recovery.
Stoxx six hundred pan-Europeans rose 1. 8% to 412. 37 after losing 1. 6% on Friday. Germany’s DAX rose 1. 3%, France’s CAC 40 index rose 1. 7% and the UK FTSE 100 rose 1. 8%.
Danone SA shares rose 2. 5%. The food company has entered into an agreement with COFCO Dairy Investments Limited to turn Danone’s stake in China Mengniu Dairy Co. Ltd. , recently owned, into a direct stake.
Oil and fuel company BP Plc rose 2. 5%, Total SE gained 1. 7% and Royal Dutch Shell added 2. 1%.
Housing movements have recovered in the UK in the hope that Finance Minister Rishi Sunak will issue measures to buy homes.
The perki fell by almost 6%, Taylor Wimpey went up 5. 2% and Barratt Developments won 4. 5%.
Pharmaceutical company AstraZeneca rose 1. 6% after promoting its 7. 7% stake in Moderna Inc for more than $1 billion.
BayWa AG shares rose by more than 2%. The operator of the agriculture, construction and energy sectors said that his initial profit before interest and tax or EBIT for the 2020 monetary year was higher from 14. 3% to 215. 3 million euros, with 188. 4 million euros. last year.