Brussels, January 23 (QNA) – European stocks rose today, supported by technology and real estate companies, as expectations indicate that the eurozone may witness a slight recession, following the statements of European Central Bank (ECB) hardliner officials, pushing the euro to its highest level in nine months.

The Stoxx Europe 600 Index increased by 0.4 percent, after recording the first weekly decline this year, last Friday.

Tech companies’ stocks jumped 1.4 percent, following their US counterparts, which experienced gains on Friday, after the release of positive business results from streaming service giant, Netflix.

The euro also recorded a jump after ECB governing council member Klaas Knot said yesterday that the bank will raise interest rates by 50 basis points in February and March, only to continue to raise them in the months that follow.

Investors are waiting for ECB President Christine Lagarde’s statements later today, to get more indications about the central bank’s monetary tightening plans.

German flavor and fragrance maker Symrise’s stocks fell by 7.1 percent after the company had reported a lower-than-expected EBITDA margin for 2022, as well as a decline in the stock value of Swedencare. (QNA)


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