European shares post their first weekly increase in four weeks

Sat, Sep 10, 2022 – 10:09 am

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European stocks recorded their first weekly increase in four weeks, supported by a rise in bank shares, due to expectations that the European Central Bank will tighten monetary policy more, and the rise of mining shares with the rise in metal prices. week.

Bank shares in the euro zone jumped 3.2% to record its largest percentage gain in nearly two months, and fears were shaken by the extent to which banks will be able to make profits in light of low interest rates, and the index is still down by 16.3% since the beginning of the year until now.

Mining stocks jumped 3%, as a weaker dollar and new stimulus for a sluggish Chinese economy boosted industrial metals and iron ore prices.