Wall Street equity markets boosted by energy and bank stocks

 Wall Street equity markets boosted by energy and bank stocks

Equities updates

Wall Street and European stock markets rose on Monday, powered by banks and industrial businesses that investors expect to benefit from economic growth.

The blue-chip S&P 500 opened 0.8 per cent higher, with its basic materials sub-index gaining 1.1 per cent, energy producers adding 2.2 per cent and banks rising 0.9 per cent.

A similar trend was under way in Europe, where the regional Stoxx 600 index rose 0.8 per cent, led by banks and energy stocks. The technology-focused Nasdaq Composite traded flat.

The S&P had its worst week since June last week, although it remains close to the all-time high reached earlier this month, as investors fretted about the Federal Reserve cutting its $120bn a month of bond purchases designed to boost lending and spending throughout the pandemic.

Comments in recent days from Fed officials,…

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