European shares hit a two-week high

The New York Stock Exchange. The Nasdaq Composite index fell by midday trading on Monday, dragged down by high-growth stocks as last week’s rally on easing concerns over inflation lost steam, while recovering oil prices boosted shares of energy firms. Photograph: Spencer Platt/Getty Images)European shares closed at a two-week high on Monday, boosted by miners as an easing of Covid-19 restrictions in China lifted global sentiment.

Mining stocks jumped 1.8 per cent to lead gains among sectors, while industrial and healthcare stocks were the biggest boosts to the pan-region index. Most regional bourses rose on Monday, but a drop in utilities hit Italy’s MIB which slid 0.9 per cent. Lingering worries about inflation were evident as investors sold luxury shares after brokerages cut price targets on several of them. France’s CAC 40, packed with luxury names, fell 0.4 per cent.jumped 15.7 per cent after the technology investor said it will gradually sell its 28.9 per cent stake in Chinese software giant Tencent worth more than $100 billion at current prices.

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