Reuters

European stocks snap 4-day losing streak as oil, banks rise

(Reuters) -European stocks ended higher for the first time in five days on Monday, as oil, banks and utility shares gained on hopes that a strong euro zone economic recovery would outweigh risks from a global slowdown. Global stocks have come under pressure recently after months-long gains on worries about inflation, tighter COVID-19 curbs in Asian economies, China’s regulatory moves, and growing views that central banks will soon start paring stimulus. While those concerns remain, European investors took comfort as the European Central Bank last week raised its growth and inflation projections for this year and beyond, as the euro zone economy recovers quicker than expected from the pandemic shock.

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