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European stock rise strongly after week of recession worries

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Kingspan share fall as it warns of major deterioration in market conditions via IrishTimesBiz

London’s FTSE 100 rose on Monday, boosted by gains in financial and energy stocks, after the blue-chip index posted its third straight weekly drop on sluggish economic growth worries.3.3 per cent each leading gains.

Focus is now on UK consumer price index data due Wednesday and PMI, as well as retail sales readings due later this week. The benchmark shed 4.6 per cent and hit over one-year lows last week in a global sell-off that was fuelled by worries about aggressive interest rate hikes by the US Federal Reserve and other major central banks sparking a recession.

 

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