The composite index of the largest companies in the Stoxx Europe 600 region rose by 0.87% by 11:43 a.m. to 411.21 points.
The German DAX index gained 1.56%, the French CAC 40 – 0.9%, the British FTSE 100 – 0.84%. The Italian FTSE MIB and the Spanish IBEX 35 added 1.17% and 0.25% respectively.
Meanwhile, major indicators could fall by more than 5% over the week, which will be the third and most significant weekly decline since mid-June, writes Trading Economics.
Traders are waiting for key data on the US labor market, which will be published on Friday and may be another reason for the US Federal Reserve (Fed) to continue to raise rates at an aggressive pace.
Germany’s trade surplus collapsed to 4.9 billion euros in July from 17.8 billion euros in the same month a year earlier, official statistics show. Imports jumped 26.1% to 122.7 billion euros, while exports rose 10.8% to 127.6 billion euros.
Among the components of the Stoxx Europe 600, InPost S.A. led the way with gains of 6.9%.
Shares of Volvo Car AB fall 0.8%. The company reduced car sales in August by 4.6% in annual terms against the backdrop of the energy crisis and new outbreaks of COVID-19 in China.
British Reckitt Benckiser Group PLC rose 1.9% despite the news that the head of the company, Laxman Narasimhan, left for the American Starbucks Corp., which owns the world’s largest coffee shop chain.
Shares of Shell Plc add 2%. The British oil and gas company, together with the American Exxon Mobil Corp. sells California JV Aera Energy LLC to German investment company IKAV Capital Partners GmbH.
