European stocks showed growth during trading on Tuesday after four sessions of intense sales in a row. Although investor sentiment remains sensitive to the development of the topic of US President Donald Trump's duties. This is reported by Reuters, writes UNN.
Details
The pan-European STOXX 600 index rose by 1.1% at the beginning of trading after falling by 12.1% during the last four sessions. As investors are concerned about a possible global recession triggered by the recent escalation of the global trade war.
The day before, trading closed with a decrease in the index by 17.9% from its historical maximum, reached March 3.
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The German index (.GDAXI) rose by 1.1% after it did not confirm the bearish market trend of the previous session. Investors eagerly bought up shares of the defense sector (.SXPARO), which shows the best upward dynamics during the current year with an index growth of 3.3%. Meanwhile, shares of the debt market (.SX7P) increased by only 1%, having suffered a negative impact due to the prospect of slowing economic growth.
Dutch chip equipment manufacturer ASML (ASML.AS) and German engineering company Siemens (SIEGn.DE) rose by 3.9% and 3.6% respectively, and became the biggest support for STOXX.
Let us remind
Prices for oil rose by more than 1% on Tuesday, recovering from a sharp fall to a nearly four-year low in the previous session due to fears that US duties could reduce demand and lead to a global recession,