European shares rallied in the first trading session of 2023 on Monday, after a rough year with recession fears as central banks raised interest rates globally and the Russia war- Ukraine.
The region-wide STOXX 600 index was up 0.5% at 08:10 GMT, supported by rate-sensitive tech stocks. The energy sector rose 0.8%.
STOXX 600 ended 2022 with heavy losses, as aggressive tightening policies by central banks to curb soaring prices, economic recession, Russia-Ukraine war added to the pressure. inflation and growing concern about COVID cases in China.
Germany’s finance minister expects inflation in Europe’s largest economy to fall to 7% this year and continue to decline in 2024 and beyond, but predicts high energy prices will become the norm. new.
The German benchmark DAX added 0.5%.
The London and Dublin stock exchanges will close on New Year’s Day, while other European exchanges start the year on a positive note.
Croatia welcomes the new year with two historic changes, as the youngest member of the European Union joins both the EU’s borderless Schengen area and the euro single currency.
