Mon. Nov 29th, 2021

With Wall Street closed due to its Thanksgiving holiday, European equities rose in focus as investors bought into defensive sectors such as utilities due to concerns about soaring coronavirus cases across the continent.

The European STOXX 600 index rose 0.4 percent, rejecting a three-week low on Wednesday. Utilities and health stocks, sectors considered safer bets in times of economic uncertainty, were among the biggest winners.

It was a predominantly positive day for European markets.

It was a predominantly positive day for European markets.Credit:Getty Images

Leading utilities also received a boost from Germany’s push to increase climate protection, including a faster expansion of renewable energy and an accelerated carbon dioxide.

Technology stocks rose 0.6 percent, their first rise in six days after rising bond yields hit the high-growth sector earlier in the week.

The Australian stock market is set for a lukewarm start to the session, with futures at 4.57 AEDT pointing to a decline of 6 points or 0.1 per cent at open.

Following concerns about faster US interest rate rises lowering the global sentiment, strong economic data helped Wall Street close higher on Wednesday and supported markets across the globe.

The Thanksgiving holiday in the USA kept the activity low elsewhere on Thursday.

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