(Reuters) – A strong rally in mining stocks on Monday boosted an index of European equities, which retraced all losses logged early in the session on worries about inflation and the upcoming earnings season. [IRONORE/] [MET/L]As a global energy crunch lifted crude prices, oil stocks rose more than 1%, as did auto shares, offsetting losses in travel & leisure, utility and retail names. [O/R]The pan-European STOXX 600 index recouped losses of as much as 0.6% on the day, to end marginally higher. “Inflation is set to stay higher for longer than we previously envisaged due to surging energy prices and goods shortages. The banking index touched its highest since February 2020, recovering almost all pandemic-induced losses as investors jacked up interest rate expectations.

Source: MetroXpress October 11, 2021 08:37 UTC