European stocks aim higher despite recession worries
Europe's main stock markets rose on Monday after a mixed Asian session, as traders set aside recession fears and French political uncertainty. Bitcoin regained $20,000 after sinking to an 18-month low of $17,599 in weekend deals because risk-averse investors had shunned the world's most popular cryptocurrency. London equities rallied 1.0 per cent in midday deals on Monday, with sentiment boosted by news of a blockbuster takeover offer for publisher Euromoney. But the eurozone was more muted. Frankfurt stocks were up 0.5 per cent and Paris gained just 0.3 per cent, while oil prices languished on stubborn demand concerns. Markets were rocked last week by a fierce sell-off after the US Federal Reserve's sharp interest rate hike – the biggest in nearly 30 years – and a warning of more to come as inflation soars. "Stability often comes before recovery and markets being more composed would suggest investors are no longer panicking," said Russ Mould, investment director at broker AJ Bell. Investors digested news that French President Emmanuel Macron and his allies faced political deadlock after losing their parliamentary majority in a stunning blow for the president and his reform...