A trader works on the floor of the New York Stock Exchange in New York. Photograph: Justin Lane/EPAEuropean shares logged their best day in nearly two weeks on Monday after clocking falls in the previous week, when a strong US jobs report rekindled bets of another aggressive rate hike by the US Federal Reserve.
Exploration group Tullow Oil rose 3.2 per cent in Dublin to 51.6 cents per share, after crude prices surged.Britain’s blue-chip index closed at a two-month high, boosted by economically sensitive sectors such as oil and gas, and banks as upbeat economic data from China and the United States. The FTSE 100 gained 0.6 per cent to mark its strongest close since June 9th, while the domestically focused midcap index rose 0.3 per cent.
Joules Group soared 33.3 per cent after the fashion group said it was in talks over a potential equity investment of about £15 million from retailer Next.The pan-European STOXX 600 index rose 0.8 per cent, steadying after snapping two weeks of gains on Friday. Siemens Energy fell 1.0 per cent, blaming a €200 million charge related to winding down its Russian business for a wider net loss in 2022.