STOXX 600 rises 0.5
Commoditylinked stocks, tech shares jump
Freenet rises after Deutsche Bank raises rating

Dec 19 Reuters European shares advanced on Monday, supported by energy sector, after a bruising selloff last week sparked by growing fears of a global recession as major central banks promised further interest rate hikes ahead.

The regionwide STOXX 600 index was up 0.5 at 0913 a.m. GMT.

Energy stocks jumped 2.6 to spearhead gains in the index, as oil prices were supported by the prospects of demand recovery in top consumer China, although surging COVID19 cases in the country after it relaxed some of its stringent curbs remain a cause of concern.

Tech stocks and miners, among the worst hit sectors last week, added 0.5 and 1, respectively. The tech sector had touched an over onemonth low in the previous session.

There could be a little bit of attempts at bargainhunting going on given some of the losses, but there is still unease about what 2023 will bring, said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.

The STOXX 600 has lost 12.5 this year on fears of a recession after the European Central Bank ECB, like other major central banks, embarked on its aggressive ratehike campaign to stem a surge in prices partly driven by the RussiaUkraine war.

Recent signs of easing inflationary pressures had offered hopes of central banks signalling an end to their monetary policy tightening, lifting equities off their October lows….