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European stocks rebound as bond markets stabilise

Published 03/01/2021, 04:25 PM
Updated 03/01/2021, 04:30 PM
© Reuters.
UK100
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FCHI
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DE40
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ICAG
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SXRP
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STOXX
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SXPP
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SXTP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 1 (Reuters) - European stocks bounced on Monday after
sharp losses last week as a selloff in bond markets eased, while
optimism over COVID-19 vaccination programme and U.S. stimulus
package further aided sentiment.
The pan-regional STOXX 600 index .STOXX rose 1.6% by 0811
GMT following strong gains in Asian stocks despite
weaker-than-expected manufacturing activity data out of China.
The European equities benchmark fell to a near one-month low
on Friday as investors grew fearful that rising inflation due to
another large U.S. stimulus package and the re-opening of the
global economy could drive major central banks to tighten
monetary policy.
The German DAX .GDAXI rose 1.3%, while France's CAC 40
.FCHI and UK's FTSE 100 .FTSE gained 1.5% each.
Miners .SXPP , up 2.2%, were the top sectoral gainers,
while travel & leisure .SXTP and retail .SXRP stocks jumped
over 2%.
British Airways-owner IAG ICAG.L was the top gainer on
STOXX 600, jumping 5.4% after Peel Hunt upgraded the stock to
"buy" on expectations of a rebound in travel demand during
summer.

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