European stocks recovering from its lowest level in six weeks led by commodity companies

Economies.com
2016-09-19 10:00AM UTC

European stocks rose on Monday morning dealings in the first week's sessions, to recover from its lowest level in six weeks, which recorded on Friday, led the rises companies of commodities and the recovery of the energy sector.

 

 

The Dow Jones Stoxx Europe 600 Index rose by 1.1 percent by 09:26 GMT, index closed Friday's session down 0.7 percent to its lowest closing level since the fourth of August due to extensive losses for the banking sector and financial companies.

 

 

The mining sector and commodity companies made the biggest gains on the Dow Jones Stoxx Europe 600 index, with a rise of BHP Billiton shares more than 3 percent, based on the rise of metals and commodity prices in global markets.

 

 

The energy sector rose by about one percent, with a higher BP shares by more than 2 percent, supported by a recovery in oil prices from the lowest level in more than a week after renewed hopes of an producers agreement inside and outside OPEC to stabilize the oil market and support prices.

 

 

In London, the Financial Times Index rose 1.5 percent to be the biggest winner of all the stock indices in Europe, supported by gains in the mining sector, and the French CAC rose by 1.4 percent, supported by gains in automakers and the rise of Renault's shares by more than 2.5 percent.

 

 

Futures of the S & P 500 rose 0.6 percent, and the index closed Friday's session on Wall Street, down by 0.4 percent after data showed higher-than-expected consumer prices in the United States during August, these data reinforced expectations of the Federal Reserve to raise US interest rates during the current year.

 

 

As for the most important European markets indices; euros Stoke 50 index rose 1.2 percent, and France's CAC 40 Index climbed 1.4 percent, and Germany's DAX index increased by 0.8 percent, and in London FTSE 100 rose 1.5 percent amount.

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