European shares close higher after last week’s losses

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European stock indices rose during today’s trading, to compensate for some losses that they incurred last week as a result of the markets’ fear of a global economic recession.

For her part, European Central Bank President Christine Lagarde said that the bank may start raising interest rates in July from its current negative range.

Government data revealed that the German business confidence index rose in May, exceeding analyst expectations.

At the end of the session, the benchmark “Stoxx Europe 600” index rose by 1.3%, or 5 points, to 436 points. The British “FTSE 100” rose by 1.7% to 7,513 points, and the French “CAC” rose by 1.2% to 6358 points, while the German “Dax” rose by 1.4% to 14175 points.