European stocks rebound from 2-month low as fears over Evergrande ease

2021-09-21 12:14:40 GMT (Economies.com)
European stocks rebound from 2-month low as fears over Evergrande ease

European stocks rose on Tuesday, rebounding from a 2-month low, while on track for the first gain in 3 session, as concerns over the Chinese company Evergrande crisis start to ease.

 

The Stoxx Europe 600 index rose 1.1% as of 10:55 GMT, after closing lower by 1.6% yesterday, and hit a 2-month low at 450.25 points.

 

The mining sector saw the largest gains in Europe today, with a rise of more than 1.75%, followed by the energy sector with a rise by 1.5%.

 

China's real estate giant Evergrande continues to face a disastrous debt default scenario, which could destabilize many economic sectors in China, maid concerns about the integrity of the Chinese real estate and credit markets.

 

The People's Bank of China has injected huge sums of money, in attempts to ease global markets' concerns about the world's second largest economy.

 

S&P 500 futures rose 0.9% today, after the index closed lower by 1.7%, and hit a 2-month low.

 

The Fed will convene later today to decide on monetary policy and provide clarity over the future of its decision in light of the recent economic data, amid expectations to start reducing its bond-buying before the end of this year, which is an essential step before an interest rate hike.

 

Back to Europe, the Euro Stoxx 50 index rose 1.3%, France's CAC 40 rose 1.4%, Germany's DAX index rose 1.5%, and the UK's FTSE 100 rose 1.2%.

 
 
 
  Symbol Last Change Chg.%
1.1613
0.0002
0.0207%
1.3765
0.0026
0.1871%
Tadawul
11861.19
15.26
0.13%
24.426
1.113
4.772%
84.692
1.346
1.615%
86.21
0.66
0.77%
1801.585
31.845
1.799%
 
 
US
 
Europe
 
Asia