London, Monday 20 June 2022
On Monday, European equities gained ground, with the STOXX 600 and the DAX 40 each rising approximately 1%, boosted by bargain shopping for beaten-down firms.
Fears that the global economy may slow considerably as a result of aggressive tightening by major central banks to combat record inflation have continued to sour sentiment.
Meanwhile, in France, Emmanuel Macron lost his absolute majority in the lower-house National Assembly as the country's fourth election day in two months completed on Sunday, following the first round last week and the presidential election in April.
In terms of economic data, producer prices in Germany increased 33.6 percent year over year in May, setting a new monthly high for the 6th month in a row, owing primarily to an increase in energy prices.
(Written and edited by: The Decision Maker - Finance editors)