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Travel and technology companies support European stocks, but the energy sector pared market gains
The European stock market rallied on Monday, supported by strong gains in travel stocks and technology companies that covered losses in the energy sector, while investors focused on developments related to Britain's exit from the European Union and upcoming measures from central banks later this week.
The pan-European STOXX 600 index ended the trading session 0.2% higher, after rising as much as 0.8% earlier in the session.
Most of the decline in those gains came with the decline in shares of energy companies Total (PA: TOTF), BP and Royal Dutch Shell after prominent figures in the sector said that the damage to the global economy due to the Corona virus pandemic will cast a shadow on oil demand for a longer period than previously expected. .
The European technology sector index closed up 0.9%.
However, the Eurozone shares index closed up 0.1 percent, while the British Financial Times index fell by the same percentage, with export companies' shares affected by the rise of the euro and the pound sterling.
