European shares started slightly higher on Wednesday, boosted by a rally in banks and automakers, but negative data raised fears of slowing economic growth limited the gains.
The European Stoxx 600 index began the month of June on a rise, increasing by 0.3% by 07:16 GMT, after closing down 0.7% on Tuesday, as the record rise in inflation raised fears of violent intervention by the central bank, and the index lost 1.6 percent during the month. mayo.
Economists at Deutsche Bank now expect the ECB to raise rates by 50 basis points in September as higher prices affect economic growth.
Auto stocks rose by about 1%, and the banking sector was the largest supporter of the Stoxx 600 index, and the sector increased by 0.6%.
The shares of the British Dr. Martins shoes company rose 19% after it expected a greater growth in its annual revenues as a result of raising prices to keep pace with inflation and increasing sales.
Shares of Deutsche Bank’s asset manager DWS fell 6.9% after the chief executive said he would step down next week as the company faces accusations of misleading investors about “green” investments.