European stocks bounce after volatile week

European stocks bounce after volatile week

Oil stocks helped fuel a rebound in European stocks on Monday, after heavy losses late last week, as omicron fears and the outlook for US monetary policy they affected investor confidence.

The pan-European STOXX 600 index was up 0.7% to 0818 GMT, and the energy sector was up 1.4%. Oil prices rose more than a dollar a barrel after the main exporter, Saudi Arabia, raised the prices of crude sold to Asia and the United States.

A South African health official said over the weekend that the variant has caused mild infections, while America’s top infectious disease referent, Anthony Fauci, told CNN that “there doesn’t seem to be a great level of severity.” for now.

Among the values, the French company of construction materials Saint-Gobain rose 1% after announcing that it acquired all the shares of the American GCP Applied Technologies in a transaction valued at about 2.3 billion dollars.

Just Eat fell 3.3% after Bernstein downgraded the stock to “equal weight”, while Deutsche Bank appreciated 2.9% after JP Morgan raised the stock to “overweight”.

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