The pan-regional STOXX 600 rose 0.5 percent by 0810 GMT, supported by rate-sensitive technology stocks. The energy sector added 0.8 percent.The STOXX 600 ended 2022 with sharp losses, driven by central banks’ aggressive policy tightening to rein in soaring prices, economic slowdown, the Russia-Ukraine war that increased inflationary pressures and growing concerns over COVID cases in China.
Germany’s finance minister expects inflation in Europe’s biggest economy to drop to 7 percent this year and to continue falling in 2024 and beyond, but expects high energy prices to be the new normal.
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