European equity markets were up more than 1% in early trading on Monday, with the German market helped by activity between units of technology group Siemens AG.
The pan-European STOXX 600 index was up 1.2% by 0720 GMT, posting its fifth weekly loss in six weeks as investors fled riskier assets on recession fears.
Banks were up 0.5%, while commodity groups and industrials were also among the biggest gainers on the STOXX 600.
Siemens AG rose 2.3%. Its energy arm, Siemens Energy, gained 3.6% after launching a 4.05 billion euro ($4.28 billion) bid for minority stakes in troubled wind turbine subsidiary Siemens Gamesa. Siemens Gamesa was revalued by 5.8%.
In global markets, while Chinese stocks slipped on COVID-19 concerns as cases surged in Beijing, the gradual easing of restrictions in Shanghai and hopes of more central bank stimulus kept hopes of a recovery in the economy. second largest economy in the world. Most stocks outside of China and US futures were higher.
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