European stocks rose today, Monday, with the support of technology and real estate companies, as expectations that the euro zone will witness a slight recession erased after the hawkish statements of European Central officials that pushed the euro to its highest level in nine months.
The pan-European Stoxx 600 index rose 0.4%, after recording its first weekly decline this year on Friday. Technology stocks jumped 1.4%, tracking their US counterparts, which saw gains on Friday, after the release of positive business results from the streaming service giant. Netflixaccording to “Archyde.com”.
The euro also recorded a jump after Clas Knut, a member of the European Central Bank’s Governing Council, said yesterday, Sunday, that the central bank will raise interest rates by 50 basis points in February and March, and will continue to raise them in the following months as well.
Investors are looking for more indications of the central bank’s monetary tightening plans, when its chair Christine Lagarde speaks later today.