“European Stocks Rise Amid Debt Ceiling Talks and Presidential Elections”

European stock indices rose today, amid anticipation of the US debt ceiling talks, the presidential elections in Turkey, and data released this week to get indications about the state of the global economy.
The European “STOXX 600” index rose 0.4%, and shares of personal and household goods companies, as well as travel and entertainment companies, led the gains.
Shares of “AXA” rose 1.7% after the second largest insurance company in Europe said that its sales in the first quarter of this year rose 2%.
Siemens Energy also rose 0.9 percent after the energy group raised its sales forecast and recorded a record backlog of orders of 102 billion euros ($112.28 billion).
And helped improve sentiment also data showing that the German wholesale price index fell slightly last April, which is the first decline on an annual basis since December 2020, while other data showed that consumer prices in Sweden fell more than expected in April.
Last Friday’s data revealed that US consumer sentiment fell to its lowest level in six months in May, due to fears of a recession resulting from the dispute over raising the federal government’s debt ceiling.
US President Joe Biden said he expects to meet with congressional leaders tomorrow “Tuesday” for talks on a plan to raise the debt ceiling and avoid a default with catastrophic repercussions.