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March 1 (Reuters) – European stocks rebounded on Monday after steep losses last week, as sales in bond markets eased, while optimism over the COVID-19 vaccination program and stimulus package American sentiment further strengthened.
The pan-regional STOXX 600 index rose 1.6% at 8:11 a.m. GMT after strong gains in Asian stocks despite weaker-than-expected manufacturing activity data outside of China.
The benchmark for European equities fell to a nearly one-month low on Friday as investors feared rising inflation due to another major US stimulus package and the reopening of the global economy. pushes the main central banks to tighten their monetary policy.
The German DAX rose 1.3%, while the CAC 40 in France and the FTSE 100 in the UK rose 1.5% each.
Miners, up 2.2%, were the biggest gainers in the sector, while travel and leisure and retail stocks jumped more than 2%.
British Airways owner IAG was the main winner on STOXX 600, jumping 5.4% after Peel Hunt improved stock to ‘buy’ on expectations of a rebound in travel demand during the summer. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)