{"id":1626879,"date":"2022-08-30T11:36:17","date_gmt":"2022-08-30T15:36:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626879"},"modified":"2022-08-30T11:36:27","modified_gmt":"2022-08-30T15:36:27","slug":"banks-lift-european-bourses-as-rate-hike-recession-fears-grow","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/banks-lift-european-bourses-as-rate-hike-recession-fears-grow\/","title":{"rendered":"Banks lift European bourses as rate hike, recession fears grow"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbanks-lift-european-bourses-as-rate-hike-recession-fears-grow%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626879&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Anisha Sircar<\/p>\n<p>(Reuters) -European shares rose on Tuesday following a two-day slump as banking stocks boosted bourses on the back of higher interest rate expectations, though fears around a burgeoning energy crisis and looming recession kept gains in check.<\/p>\n<p>The pan-European STOXX 600 rose 1.0%, after a sell-off of about 2.5% over the last two sessions, driven by a hawkish tone struck by European Central Bank (ECB) speakers and U.S. Federal Reserve Chair Jerome Powell, which bumped up rate expectations.<\/p>\n<p>Bank stocks, which tend to benefit from higher interest rate environments, rose 2.2% after traders priced in more than a two-thirds chance of a 75-basis-point move at the ECB\u2019s September 8 policy meeting. [ECBWATCH] <\/p>\n<p>\u201cA number of ECB officials spoke in favour of rate hikes, but what matters more is whether markets have confidence in the ECB to significantly tighten despite all adversities,\u201d said Commerzbank analyst Esther Reichelt.<\/p>\n<p>\u201cWith a view to the coming winter and the threat of an energy crisis, investors are likely to remain understandably cautious,\u201d Reichelt added.<\/p>\n<p>A planned three-day halt of natural gas supplies to Europe by Russian energy giant Gazprom via the Nord Stream 1 pipeline was set to kick off on Wednesday. <\/p>\n<p>On Monday, ahead of the halt, German economy minister Robert Habeck said the country faces the \u201cbitter reality\u201d that Russia will not restore gas supplies to Germany. Separately, several Italian papers reported on Tuesday Berlin was willing to consider a price-cap on gas.<\/p>\n<p>The DAX rose 1.6% to move away from six-week lows.<\/p>\n<p>Meanwhile, Spain\u2019s IBEX rose 1.1%. Spanish national consumer prices rose 10.4% year-on-year in August, down from 10.8% the previous month, preliminary data showed.<\/p>\n<p>Among individual stocks, shares in Sanofi firmed 1.0% after a drug which the firm as well as Sweden\u2019s SOBI are collaborating on was granted priority review by the U.S. Food and Drug Administration. SOBI also added 1.0%. <\/p>\n<p>Gazprom has informed Engie it is reducing its gas deliveries starting Tuesday due to a disagreement between the parties, the French utility said. Engie shares added 1.1% in early trade.<\/p>\n<p>Adevinta surged 14.1% after the world\u2019s largest classified ads company reported upbeat quarterly results.<\/p>\n<p>Norway\u2019s Aker Solutions jumped 5.5% after the firm announced it would form a subsea engineering joint venture with Schlumberger.<\/p>\n<p> (Reporting by Anisha Sircar in Bengaluru; Editing by Krishna Chandra Eluri)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2742888\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7T079-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7T079-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anisha Sircar (Reuters) -European shares rose on Tuesday following a two-day slump as banking stocks boosted bourses on the back of higher interest rate expectations, though fears around a<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1626879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1626879"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1626879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1626879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1626879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}