European stocks rise amid optimism about China in the industrial and financial sectors, by Reuters

Dec. 9 (Reuters) – European stocks rose on Friday on optimism about the easing of coronavirus restrictions in China Credit Suisse (SIX 🙂 rose after learning of the capital increase.

The index rose 0.2% at 08.10am GMT and appeared poised to snap a five-day losing streak, largely driven by fears of an imminent global recession triggered by sharp interest rate increases from the central bank.

However, data on Thursday, which showed a rise in weekly jobless claims in the US, raised investors’ hopes that the Federal Reserve might moderate its hawkish stance on raising interest rates.

Investors also applauded China’s easing of strict coronavirus restrictions, which they hope will help boost the country’s economic recovery.

Industrial stocks including Airbus (EPA:) were the biggest lifters of the STOXX 600, while the financial services sector rallied as Credit Suisse shares rose more than record lows last week.

Credit Suisse shares rose 3% after the beleaguered bank celebrated a “milestone” in its restructuring plan on Thursday by raising 2.24 billion Swiss francs ($2.39 billion) in its $4 billion capital increase. million francs.

Despite the early gains, the STOXX 600 is likely to incur losses this week, after seven consecutive weekly gains.

(Reporting by Amruta Khandekar: Editing in Spanish by Flora Gomez)