European stocks advanced on Monday, following the positive trend identified at the end of last week and overnight in the Asia-Pacific markets.
pan europe Stokes 600 It rose 1.9% by mid-afternoon, with retail stocks jumping 4.4% to lead the gains as all major sectors and exchanges traded in positive territory.
European stocks were affected last week by the hard tone that hit the stock market European Central Bank On monetary policy, policymakers look to rein in record high inflation in the 19-nation eurozone. The momentum continued on Monday.
Global markets are preparing for the latest inflation reading in the US, with August data due on Tuesday.
This report is one of the last data on inflation that the US Federal Reserve will witness before its September meeting, when the central bank is expected to raise interest rates for the third time in a row by 0.75 percentage points in an attempt to combat high inflation.
Federal Reserve Chairman Jerome Powell reiterated last week that he is “strongly committed” to lowering inflation.
US stock futures rose in pre-market trading on Monday, while shares in the Asia-Pacific region rose in overnight trade amid improving risk sentiment. The markets of mainland China, Hong Kong and South Korea are closed for a holiday.
