2023-05-15 08:42:00
© Archyde.com. An electronic screen displays German stock data at the Frankfurt Stock Exchange on May 12, 2023. Photo: Archyde.com.
(Archyde.com) – European stocks rose on Monday as investors assessed the uncertainty surrounding the US debt ceiling talks and the presidential election in 2010 and looked to data this week for clues about the state of the global economy.
The European index rose 0.4 percent, with personal and household goods companies as well as travel and entertainment companies leading the gains.
AXA shares rose 1.7 percent after Europe’s second-biggest insurer said its first-quarter sales rose 2 percent.
Siemens (ETR:) Energy also rose 0.9 percent after the energy group raised its sales forecast and posted a record order backlog of 102 billion euros ($112.28 billion).
Also helping to improve sentiment was data showing that the German wholesale price index fell slightly in April, the first year-on-year decline since December 2020, while other data showed that consumer prices in Sweden fell more than expected in April.
Talks about the US debt ceiling between President Joe Biden and lawmakers seem likely to resume on Tuesday, while broader indications ignore the uncertainty surrounding Turkey’s presidential election heading towards a run-off.
( = 0.9084 Euro)
(Prepared by Amira Zahran for the Arabic Bulletin – Edited by Mahmoud Reda Murad)
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