{"id":29610,"date":"2022-12-29T17:35:27","date_gmt":"2022-12-29T17:35:27","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/12\/29\/european-stocks-recover-after-early-weakness-close-broadly-higher\/"},"modified":"2022-12-29T17:35:27","modified_gmt":"2022-12-29T17:35:27","slug":"european-stocks-recover-after-early-weakness-close-broadly-higher","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/12\/29\/european-stocks-recover-after-early-weakness-close-broadly-higher\/","title":{"rendered":"European Stocks Recover After Early Weakness, Close Broadly Higher"},"content":{"rendered":"
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European stocks started off on a weak note on Thursday, but gained in strength as the session progressed and eventually ended on a positive note even as investors continued to weigh the possible impact of rising interest rates on global economic growth.<\/p>\n

Worries about rising Covid-19 cases in China weighed as well, but markets<\/span> gained as investors looked to pick up stocks that had taken a severe beating in some recent sessions on recession fears.<\/p>\n

There are concerns China may not be sharing data on any signs of evolving strains that could spark fresh outbreaks in countries around the world.<\/p>\n

After Beijing announced plans to reopen its borders, Italy, Japan, Taiwan, India and the United States have announced mandatory tests on visitors from China.<\/p>\n

The pan European Stoxx 600 climbed 0.68%. The U.K.’s FTSE 100 gained 0.21%, Germany’s DAX surged 1.05% and France’s CAC 40 gained 0.97%, while Switzerland’s SMI advanced 0.41%.<\/p>\n

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed higher.<\/p>\n

Greece ended weak, while Czech Republic and Iceland closed flat.<\/p>\n

In the UK market, Scottish Mortgage surged 3.75%. Airtel Africa climbed 2.6%, while Next, DCC, Schrodders, Entain, Ocado Group, Segro, St. Jame’s Place, RightMove, Auto Trader Group, Pershing Square Holdings, ABRDN and United Utilities gained 1 to 2%.<\/p>\n

Antofagasta ended more than 2% down. Anglo American Plc, Imperial Brands, British American Tobacco, Fresnillo and BAE Systems posted moderate losses.<\/p>\n

In Paris, Eurofins Scientific gained more than 3%. Dassault Systemes, Stellantis, STMicroElectronics, Vivendi, Capgemini, LVMH, Veolia, Kering, L’Oreal, Hermes International, Sanofi, Essilor, Saint Gobain, Alstom and Publicis Groupe gained 1 to 2.3%.<\/p>\n

In the German market, Zalando rallied nearly 4%. Sartorius surged 3.4%. Siemens Healthineers, Adidas, E.ON, Fresenius Medical Care, HelloFresh, Infineon Technologies, Puma and Porsche Automobil gained 2 to 3%.<\/p>\n

In economic news, data from European Central Bank revealed that Growth in the euro area money supply and loans to the private sector eased in November.<\/p>\n

The broad money supply M3 growth eased to 4.8% in November from 5.1% in October. The narrow measure M1 also grew at a weaker pace of 2.4% after rising 3.8% in the previous month.<\/p>\n

In the three months to November, M3 growth averaged 5.4%, the data showed. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n