Economic news

European stocks try to recover after sell-off

European stocks, poised for their worst month since August 2015, edged higher in early trade on Monday, trying to recover from a recent sell-off which has driven them to a level, last time reached in December 2016.

Photo: Reuters

The pan-European STOXX 600 ticked up 0.2 percent to 353.10.

Germany's DAX 30 index was up 0.7 percent at 11,274.75 and Italy's FTSE MIB index jumped 1.3 percent to 18,934.40 at the opening bell.

The UK's FTSE 100 leaped 0.8 percent to 6,994.45. Britain's stock benchmark climbed due to impressive gains for heavyweight HSBC Holdings after the Europe’s largest bank by assets reported results above forecasts.

Shares in Standard Chartered gained 0.8 percent and Royal Bank of Scotland Group surged almost 1 percent.

Sentiment remains however cautious with U.S. stock futures trading in the negative and concerns over slowdown in China’s economy weighing on Asian markets.


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