FRANKFURT, Jan 12 ― Investors venturing back into tech shares along with upbeat expectations for the fourth-quarter earnings season led European stocks to recover yesterday, after fears of rising rates drove heavy losses in recent sessions.
“The market is grappling with a broad-based rotation and the potential for a hastened pace of rate hikes, which is leading to volatility,” said Greg Marcus, managing director, UBS Private Wealth Management. The upcoming fourth-quarter earnings season is expected to strike a positive note for stock markets. Germany's Delivery Hero SE jumped 5.0 per cent after saying it expects its food delivery business to break even during the second half of 2022 on demand that has soared since the pandemic began.
Among other stocks, Italy's second-largest bank, UniCredit, fell 1.1 per cent after reports that it was interested in bidding for Russia's Otkritie Bank.
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