{"id":138612,"date":"2021-09-13T16:54:02","date_gmt":"2021-09-13T16:54:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138612"},"modified":"2021-09-13T16:54:02","modified_gmt":"2021-09-13T16:54:02","slug":"european-stocks-snap-4-day-losing-streak-as-oil-banks-rise","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/european-stocks-snap-4-day-losing-streak-as-oil-banks-rise\/","title":{"rendered":"European stocks snap 4-day losing streak as oil, banks rise"},"content":{"rendered":"

(Reuters) -European stocks ended higher for the first time in five days on Monday, as oil, banks and utility shares gained on hopes that a strong euro zone economic recovery would outweigh risks from a global slowdown.<\/p>

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 10, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 index was up 0.3% after hitting a three-week low last week. Asian stocks, however, fell following news of fresh regulatory crackdown on Chinese firms. [MKTS\/GLOB]<\/p>\n

Global stocks have come under pressure recently after months-long gains on worries about inflation, tighter COVID-19 curbs in Asian economies, China\u2019s regulatory moves, and growing views that central banks will soon start paring stimulus.<\/p>\n

While those concerns remain, European investors took comfort as the European Central Bank last week raised its growth and inflation projections for this year and beyond, as the euro zone economy recovers quicker than expected from the pandemic shock.<\/p>\n

\u201cWhile we are used to seeing US markets lead the way, there is a feeling that we could see greater catch-up for Europe as high vaccination levels keep deaths relatively stable,\u201d said Joshua Mahony, senior market analyst at IG.<\/p>\n

Economy-sensitive sectors, including banks, oil and gas, and construction and materials, rose between 0.9% and 2.8%, while utilities climbed 1.6%.<\/p>\n

All eyes will be on the U.S. consumer prices data on Tuesday after soaring producer prices last week raised doubts about the U.S. Federal Reserve\u2019s view that inflation is transitory.<\/p>\n

\u201cSome central bankers will have you believe they are happy to hold back on tightening for now, we are seeing very clear signs that this spike in inflation is far from fleeting,\u201d IG\u2019s Mahony said.<\/p>\n

Meanwhile, a September market sentiment survey published by Deutsche Bank showed an equity market correction of 5%-10% by the end of the year was the overwhelming consensus.<\/p>\n

Among individual stocks, German online pet supplies\u2019 retailer Zooplus AG jumped 9.0% after Hellman & Friedman raised its takeover offer to 3.29 billion euros ($3.89 billion) from an initial offer of 3 billion euros.<\/p>\n

Associated British Foods dropped 2.4% as fourth-quarter sales at its Primark fashion business were lower than expected, with shopper numbers hurt by public health measures in its major markets.<\/p>\n

Valneva plunged 41.6% after the British government ended a COVID-19 vaccine supply deal with the French company, alleging a breach of obligations that Valneva denies.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -European stocks ended higher for the<\/p>\n","protected":false},"author":3,"featured_media":138611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nEuropean stocks snap 4-day losing streak as oil, banks rise - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/european-stocks-snap-4-day-losing-streak-as-oil-banks-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European stocks snap 4-day losing streak as oil, banks rise - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) -European stocks ended higher for the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/european-stocks-snap-4-day-losing-streak-as-oil-banks-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-13T16:54:02+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/09\/European-stocks-snap-4-day-losing-streak-as-oil-banks-rise.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/european-stocks-snap-4-day-losing-streak-as-oil-banks-rise\/\",\"url\":\"https:\/\/precoinnews.com\/business\/european-stocks-snap-4-day-losing-streak-as-oil-banks-rise\/\",\"name\":\"European stocks snap 4-day losing streak as oil, banks rise - 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