European stocks trend higher supported by retail sector

European shares opened up today, Monday, supported by a jump in the shares of the retail sector, after registering the worst weekly performance this year due to fears that interest rates will continue to be raised longer in the United States and the euro area.

According to “Reuters”, the European Stoxx 600 index rose 0.8 percent by 0811 GMT after fell 1.4 percent last week.

The inflation data in the United States, which came higher than the stakes, has strengthened that the Federal Reserve (the US Central Bank) will continue to raise interest rates. Recently, indicators have witnessed the decline in the pressure of the basic inflation in the euro area, but fears are still a list of the possibility of continued high inflation for a longer period than expected.

The European Retamentation Company increased 1.5 percent with the shares of Hinz and Mauritz (H and D) 3.9 percent.

The Associated Bretch Foods shares, the owner of Premark, jumped two percent after raising its fiscal forecast for the entire 2022-2023 after a strong performance of retail clothing stores in the first half.