European shares rose on Monday, extending the year's upbeat start to a second week, as China reopened its borders overnight and U.S. and European data soothed nerves about aggressive tightening by major global central banks.
The index clocked its best weekly performance in over nine months on Friday after a clutch of positive data – including strong euro zone factory activity and a drop in the region's headline inflation – indicated a milder-than-expected recession and easing price pressures.
That, along with data showing a tight U.S. labour market, calmed fears that the U.S. Federal Reserve and the European Central Bank would continue with their aggressive monetary policy tightening.
"At a time when everyone has been really focused on the cost-of-living crisis, the engine underneath all of that noise seems to have actually been picking up quite nicely in a way that a lot of people feared it wouldn't."Investors now await the euro zone's unemployment data for November at 1000 GMT for further cues on the strength of the labour market.that have been all but shut since the start of the COVID-19 pandemic.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European markets set for positive open, buoyed by China reopeningEuropean markets are heading for a positive open at the start of the new trading week, with market sentiment buoyed by a further reopening of China's economy.
Read more »
NYC weather: Snow, rain could impact Monday morning commuteRain and snow Sunday night could impact your Monday morning commute.
Read more »
European Journalist Org Concerned by Ukraine Media Censorship LawThe European Federation of Journalists (EFJ), Europe’s largest journalist association, has expressed concern about a new Ukrainian law that could arbitrarily censor media in the country.
Read more »
Thousands of NYC nurses could walk off the job Monday, even after some hospitals reach agreementsThousands of NYC nurses could still walk off the job on Monday, even after some hospitals have reached agreements.
Read more »
More rain coming to Southern California starting late MondayMore rain is coming to the Southland next week, forecasters said Saturday.
Read more »