European stock markets rose for the second consecutive day, with the energy sector leading the gains.

European stocks rose for a second straight day on Tuesday, marking the first time since earlier this month that they have climbed for two consecutive days. Energy shares led the gains, as oil prices moved higher.

The STOXX Europe 600 index closed up 0.7%, with TotalEnergies and Shell among the biggest contributors. With Brent crude surging to above $100 a barrel, energy stocks have risen for eight straight trading sessions and hit a new high on Tuesday.

Bellecapital Chief Investment Officer Mathias Heim said, “After implied volatility in stocks and crude oil spiked sharply, it appears that a substantial portion of the repricing of risk has already been completed.”

On individual stocks, Germany’s publishing group Springer Nature AG & Co. rose more than 12% after reporting strong results. Finnish refiner Neste Oyj climbed nearly 6% after Barclays raised its rating, citing an increase in fossil-fuel refining profit margins.

Among the decliners, Amplifon SpA shares fell for a second straight day. Previously, the company agreed to acquire GN Store Nord’s hearing-aid business, with the deal price to include cash and the issuance of shares. Indra Sistemas SA shares dropped 4.2%. Earlier, El Confidencial reported that the Spanish government plans to require the defense company’s chairman, Ángel Escribano, to resign.

Two days of gains gave European markets a brief chance to catch their breath, but they may still post the worst monthly performance in more than three and a half years.

According to a survey of European fund managers by Bank of America, as worries about stagflation intensified, investors’ optimism about this year’s European economic growth has fallen sharply since the outbreak of war. The survey found that currently, a net 29% of fund managers expect Europe’s economy to accelerate, down from the record 74% a month earlier.

海量资讯、精准解读，尽在新浪财经APP

责任编辑：李桐