Tuesday, October 4

Mining and oil companies lead European stocks to rebound

European stocks closed higher on Tuesday, rebounding from Monday’s losses. Values ​​related to raw materials and travel rose, offsetting concerns about the spread of the omicron variant of the coronavirus.

The numbers: the pan-European STOXX 600 Index rose 1.4 percent. Mining and oil companies were the ones that gained the most amid the rally in copper and crude prices. Travel companies also advanced.

  • “A lot of people are buying today with Monday’s dips, but investors are still very nervous about what’s going on,” said Danni Hewson, financial analyst at AJ Bell.

Context: the benchmark STOXX 600 rallied after two days of losses. Fear of Covid-19-related restrictions across Europe continued to weigh on confidence. Lack of liquidity before the end of the year holidays could increase volatility.