European stocks partially recovered from last week’s hefty losses on Monday, helped by upbeat industrial profits data from China and as banking stocks bounced off record lows. The pan-European STOXX 600 index rose 1.7pc after last week’s 3.6pc drop, with the banks index jumping 4.1pc. “There’s a chance for tactical rebalancing, but not a structural rally in banks,” said Dhaval Joshi, European investment strategist at BCA Research. Trade-sensitive German stocks rose 2.4pc, while Europe’s auto and industrial sectors, heavily reliant on Chinese demand, rose more than 2pc. Sonova Holding, the world’s biggest hearing aid maker, surged 12.5pc as it expects revenue to return to growth in the next six months.

Source: Irish Independent September 28, 2020 09:00 UTC