Region-wide Stoxx 600 index up 0.95% while London’s FTSE 100 rises 0.8%
European shares bounced back at the opening on Monday after Friday’s downturn, as investors wait to assess the latest batch of economic data and the next moves of key central banks.
EU economic and consumer confidence data as well as US durable goods and home sales will be released at 10am and 1.30pm UK time respectively, followed by US ISM manufacturing and European flash consumer price index figures later in the week. “We had a big sell-off last week, so it’s not unusual to see bounces of this magnitude as the market tries to understand the data we’ve seen so far,” said Neil Shearing, group chief economist at Capital Economics. “I suspect that the ECB has been quite clear that it has more work to do, but for the Federal Reserve the key questions are how far rates have to be increased, and how long will they keep them there.
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