European Shares Gain As Inflation Worries Ebb

(RTTNews) - European stocks rose slightly on Monday as fears of a wider Middle East conflict ebbed and a continued decline on oil prices helped ease concerns around inflation and the outlook for interest rates.

Investors' risk appetitive received a boost after Iran and Israel completed 'measured' counterattacks that were calibrated to avoid any casualties.

It is now becoming clear that both countries are not interested in an actual war, which could result in further escalation in the conflict.

Beyond geopolitical tensions, investors looked ahead to the release of a slew of U.S. economic data and prominent tech earnings this week for directional cues.

The pan European STOXX 600 rose 0.4 percent to 501.29 after ending flat with a negative bias on Friday.

The German DAX gained half a percent, France's CAC 40 edged up 0.2 percent and the U.K.'s FTSE 100 jumped 1.4 percent. Retail stocks traded higher in London after positive comments from RBC Capital Markets.

Marks & Spencer rallied 3.3 percent, Ocado, jumped 5.5 percent and Sainsbury added 3.8 percent.

Tesco climbed 2.8 percent after launching the first tranche of the £1 billion share buyback it promised at its results.

Tyman shares soared 30 percent. The doors and windows supplier has agreed to be bought by US metal window and door manufacturer Quanex in a £788m cash and stock deal.

Hipgnosis Songs Fund surged 9.7 percent as Blackstone made a potential offer to buy the troubled music rights investor for about $1.5 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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