European stocks hit a two-week high with the backing of mining and oil companies, and declining measures to curb the Covid-19 outbreak in China have pushed up commodity prices.
The Pan-European Stoxx 600 Index rose 0.7 percent to 0716 Greenwich Mean Time and reversed strong Wall Street growth over the weekend as concerns about continued inflation rose.
The sub-index of oil companies rose 1.5 percent and the sub-index of mining companies 3 percent, and commodity prices recovered after recent losses amid fears of a global recession.
Luxury retailers Louis Vuitton and Richmond, which rely on China for most of their revenue, rose 0.8 percent and 2.4 percent, respectively.
It rose 13.8 percent after the Dutch investor announced it would gradually sell a 28.9% stake in Chinese software giant Tencent, which owns WeChat.
Source: Lebanon Debate
