European Stocks high upwards due to gains by tech giants

The European Stocks inched towards record levels on September 6, 2021 which was mainly due to the gains marked in the technology stocks. The new development has given hopes for economic recovery on a global level. The European STOXX 600 index went up to 0.5% to 474.5. The U.S. Jobs data was weaker than expected and increased hopes for a delayed start. It was after the Nasdaq index marked a record high on September 3, 2021 the European peer increased 1.2 percent.

It was observed by the chip equipment makers ASML and Dutch investor Prosus were the ones that provided the biggest boost. Thin market volumes are expected during a U.S. holiday on Monday. On the other hand the Asian shares are expected to reach six-weeks high of more stimulus in China and Japan that will help to deal with the economic slowdown due to the coronavirus related restrictions. The European Central Bank is something that the investors are focusing on later this week. The current situation has aggressive policy makers are beginning to make its bond purchases as the inflation takes a fresh turn. Even the euro zone economy continues to remain resident despite an increase in the number of coronavirus cases.

In the European sector the retail, insurance and auto were the top gainers. Leonardo, the Italian defense group gained 2.3 percent after the CEO said that the company has intentions to list the DRS, its U.S unit when the conditions are favourable. There was a news that said that France can ease the health pass restrictions as they are affecting the activities of the big shopping malls. After the news was published, Carrefour, the French supermarket group saw a gain of 2 percent.

Spie, the French Engineering group had confirmed that it had submitted a non-binding offer to acquire the Equans which is a new service unit of Engie, which is a French energy group. Soon after, Spie fell by 3.2 percent.

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