European stocks bounced back from two-month lows on Tuesday, with broad-based gains as bargain hunters lent support after a sharp selloff on worries about slowing economic growth. By 0717 GMT, the pan-European STOXX 600 index rose 0.9pc after closing at its lowest level since early March on Monday. French carmaker Renault Group rose 1.4pc as China's Geely Automobile Holdings agreed to acquire around 34pc of Renault Korea Motors. Banking stocks rose 1.1pc, after falling more than 2pc in the previous session on concerns around global economic growth. Stocks across the globe have been hammered in May, with high-growth stocks bearing the brunt of the selloff, on worries that major central banks will hike interest rates aggressively to tame surging inflation.

Source: Irish Independent May 10, 2022 09:14 UTC