Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European shares rebound from Monday sell-off as energy stocks, miners jump

Stock MarketsDec 21, 2021 12:36PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 20, 2021. REUTERS/Staff

By Anisha Sircar and Shashank Nayar

(Reuters) -European shares ended higher on Tuesday, recovering Monday's losses, with a jump in commodity-linked and travel stocks offsetting concerns about the spread of the Omicron coronavirus variant.

The pan-European STOXX 600 added 1.4%, with miners and oil stocks among the biggest winners amid higher copper and crude prices. Travel shares also gained. [O/R] [MET/L]

"Santa was nowhere to be seen in the doom and gloom yesterday, and a lot of people are buying the dip today, but investors are so nervous about what's happening that the slightest bit of news is tipping their hand," said Danni Hewson, financial analyst at AJ Bell.

The benchmark STOXX 600 rebounded after two days of losses, with fears of COVID-related restrictions across Europe continuing to weigh on sentiment, while a lack of liquidity ahead of year-end holidays could add to volatility.

London's FTSE 100 rose 1.4% on strong gains in energy firms Royal Dutch Shell (LON:RDSa) and BP (NYSE:BP) and miners Rio Tinto (NYSE:RIO) and BHP Group (NYSE:BHP).

Meanwhile, British retail sales growth fell sharply in the first half of December as Omicron concerns kept shoppers away, a monthly survey showed.

German consumer morale is expected to further darken at the start of 2022 as the new coronavirus variant clouds the outlook for Europe's largest economy, a new survey showed.

Additionally on Tuesday, New Zealand postponed its border re-opening plans until the end of February.

Among stocks, semiconductor firm ASML Holding (NASDAQ:ASML) jumped 3.6% to be the biggest boost on the benchmark European index after U.S. chipmaker Micron Technology (NASDAQ:MU) beat market expectations in its trading update..

Peers ASM International (OTC:ASMIY), Infineon (OTC:IFNNY) Technologies and STMicroelectronics rose between 0.5% and 1.6%.

Sporting goods makers Adidas (OTC:ADDYY) and Puma added 0.6% and 0.7% respectively following Nike (NYSE:NKE)'s quarterly beat.

Bollore leaped 11.5% to the top of the STOXX 600 after the conglomerate owned by billionaire Vincent Bollore's family received a $6.4 billion offer for its African logistics assets.

Sanofi (NASDAQ:SNY) gained 0.9% after announcing it would buy Amunix Pharmaceuticals for about $1 billion.

Dutch financial services company ING rose 3.2% after saying it would quit the French retail banking business, in a move that could affect 460 employees.

European shares rebound from Monday sell-off as energy stocks, miners jump
 

Related Articles

Buy Pullback in Target Shares - Raymond James
Buy Pullback in Target Shares - Raymond James By Investing.com - May 19, 2022

By Senad Karaahmetovic Despite very weak results reported by Target (NYSE:TGT) yesterday, which forced shares to close 25% lower on the day, Raymond James analyst Bobby Griffin...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email