European shares rebounded on Tuesday after falling sharply in the previous session on fears of a new Chinese lockdown and rapid interest-rate hikes in the United States.
The pan European Stoxx 600 climbed 0.9 percent to 449.06, after having tumbled 1.8 percent the previous day.
The German DAX, France’s CAC 40 index and the U.K.’s FTSE 100 rose between 0.6 percent and 1.2 percent on hopes that Chinese policymakers will unveil more easing measures to reduce the impact from a COVID-19 outbreak.
Miners topped the gainers list after falling sharply in the previous session. Anglo American and Glencore rose about 2 percent each.
BP Plc and Royal Dutch were flat to slightly lower as oil traded below $100 a barrel on demand concerns.
Swiss bank UBS advanced 1.8 percent after reporting its best first-quarter net profit in 15 years.
Drug maker Novartis rose over 1 percent after delivering strong sales and profit growth.
Shipping group Maersk jumped nearly 6 percent after raising its full-year profit forecast.
HSBC Holdings tumbled 3.3 percent. After revealing a 25 percent decline in profits in the first quarter, the Asia-focused lender said more share buybacks were unlikely this year.
In economic releases, U.K. public sector net borrowing excluding banks decreased by GBP 8.8 billion from the last year to GBP 18.1 billion in March., official data showed. However, the deficit was the second-highest for the month of March since records began in 1993.
Market Analysis
European Shares Rebound On Earnings
2022-04-26 08:57:06
