February 7, 2023

Dubai Week

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European stock markets rebounded after a series of losses

European stock markets rebounded after a series of losses

European stocks rebounded on Wednesday after investors took stock of recent market sell-offs following concerns over Western sanctions against Russia following Russia’s invasion of Ukraine.

The Pan-European Stoxx 600 index rose 2.6 percent after four days of losses. According to the Reuters news agency, the hard-hit banking, travel and leisure sectors and automakers made gains in the morning trade.

Shares of European “Apple” suppliers such as “ASML”, “AMS” and “Infineon” increased by 3.5 to 5 percent, after adding the feature that connects to “Apple” generation networks – from the fifth to the lowest – the fastest chip for the iPhone SE and iPad Air. Provided by.

Shares of Adidas rose 7.6 percent as German sportswear expected sales to rebound in China, but warned that shutting down business in Russia could cause damage of up to மில்லியன் 250 million ($ 273.10 million).

Shares of Unicredit, Italy’s second largest bank, rose 7.4%, while shares of French BNP Paribas rose 7.9%, with both banks exposing themselves to Russia.

Global stock markets plummeted yesterday (Tuesday), raising global inflation fears after the United States and Britain took steps to ban Russia’s oil imports. The pan-European Stoxx 600 index has lost nearly 13 percent since the beginning of this year.

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