European stocks close higher amid a choppy start to the week; Morrisons surges 35%
European stocks reversed earlier losses to close higher on Monday, following jitters in global markets over a more hawkish tone from the U.S. Federal Reserve.
The pan-European Stoxx 600 ended the session up by 0.7%, having lost more than 0.8% at the start of trading. Autos added 3% to lead gains as almost all sectors and major bourses finished in positive territory.
The choppy trading in Europe follows similar moves elsewhere. After falling sharply in early premarket trade, U.S. stocks bounced back into positive territory on Monday.
The moves come as investors continue to digest new economic projections from the Federal Reserve and worry that rate hikes could come sooner than expected.
Reference: CNBC
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