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Europe: Stock markets worry about inflation but can count on their luxury heavyweights

Europe: Stock markets worry about inflation but can count on their luxury heavyweights

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European stock markets gained some ground with their luxury goods heavyweights leading the way, buoyed by the beginning of the lifting of health restrictions in China. Inflation surged to 8.7% year-on-year in May in both Germany and Spain.

 

The lifting of certain restrictions in China had a positive effect on European markets, which thus maintained last week’s momentum on Monday.

 

At the end of a quiet session in the absence of Wall Street, closed due to a public holiday, the European stock exchanges extended their rebound: Paris took 0.72%, Frankfurt 0.79% and Milan 0.58%. The London Stock Exchange finished on a more moderate rise (+0.19%).

 

Meanwhile, in Zurich, the SMI ended up 0.76% 11,736.26 points, with a high of 11,751.16 and a low of 11,673.10. The SLI gained 1.0% to 1834.41 points and the SPI 0.88% to 15,072.36 points.

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