European Shares Rise
The European stock market ended a four-session losing streak today, and Telecom Italia shares led the gains, but concerns surround the deteriorating situation of Covid-19 in Europe and the possibility of tight restrictions curbing the market’s rise.
The Stoxx 600 index ended the trading session 0.1 percent higher, after recording its worst session in nearly two months yesterday, amid a jump in Corona virus infections on the continent and fear of increasing interest rates.
Telecom Italia shares jumped 15.6 percent, pushing the European telecoms index to close 1.2 percent, following reports that KKR Fund is considering increasing its offer to acquire the company after Vividi, the largest investor in the Italian telecom, described the offer. Initial is very low.
The index of travel companies’ shares closed down more than one percent, continuing to decline for the seventh consecutive session.
The rise in copper prices, with the easing of concerns about Chinese demand, led the shares of European mining companies to close 0.2 percent higher, while energy shares rose 0.7 percent with the rise in oil prices.