LONDON – European equities rebounded on Wednesday as markets tried to reverse a negative drop in the previous trading session.
The pan-European Stoxx 600 rose 1.8% in early business, with travel and leisure stocks adding 2.8% to earn gains as almost all sectors and major stock exchanges entered territory positive.
Shares of Just Eat Takeaway rose more than 16% after Amazon agreed to take a 2% stake in its US subsidiary GrubHub to give access to its Prime members.
At the bottom of the European blue chip index, German gas giant Uniper fell 5.7% as it continues rescue talks with the German government.
The rise in trade for Europe comes after the pan-European Stoxx 600 closed 2.1% on Tuesday as fears of a recession grew in the region.
The July Sentix economic index showed on Monday that the morale of eurozone investors in 19 countries has fallen to its lowest level since May 2020, pointing to an “inevitable” recession.
On Tuesday, the euro fell to its lowest level in two decades as fears of a recession rose, gas prices soared and the Ukrainian war showed no signs of slowing down.
Stock picks and investing trends from CNBC Pro:
US stocks also fell on Tuesday before staging a late recovery. U.S. investors await the release of the minutes of the U. On the same subject : The UK is going to launch a top European science funding program, then only.S. Federal Reserve’s last meeting of the Federal Open Market Committee on Wednesday.
Data released in the U.S. this week also includes the June-Friday employment report. According to Dow Jones estimates, employment growth likely slowed in June, with 250,000 non-farm payrolls added, below May’s 390,000. Economists surveyed expect the unemployment rate to remain at 3.6%.
