As traders evaluate earnings and economic data, European stocks rise.

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After an unexpectedly positive U.S. jobs data reduced prospects for a recession and raised the chance that the Federal Reserve would tighten monetary policy more aggressively to reduce inflation, the pan-European Stoxx 600 index ended Friday’s session with a loss of almost 0.8 percent.

Individual share prices continue to be influenced by corporate earnings in Europe, with Siemens Energy, Porsche, and BioNTech among the companies reporting on Monday before the bell.

By late morning, the pan-European Stoxx 600 index had risen 0.7 percent, with IT companies having added 1.3 percent to lead gains across all industries and major exchanges.

After an unexpectedly positive U.S. jobs data reduced forecasts for a recession and raised the chance that the Federal Reserve would tighten monetary policy more forcefully to reduce inflation, the European blue chip index ended Friday’s session with a loss of almost 0.8 percent.

Overnight, markets in the Asia-Pacific region were mixed, with Hong Kong’s Hang Seng index, which is heavily weighted in technology, hurting the region.

After the S&P 500 ended a third consecutive positive week, U.S. stock futures slightly increased as investors focused on a crucial inflation report on Wednesday.

Sentix’s economic confidence index for the euro zone for August showed a slight increase from the prior month on the data front in Europe, but it still indicated a high likelihood of recession across the 19-member common currency bloc.

In the same way that Erwin Schrödinger’s cat was both dead and alive at the same time, the global economy may be both in a recession and not — at least not yet,” said HSBC Global Economist James Pomeroy.

The conflicting signals haven’t gotten any clearer over the past month, with a second quarterly contraction in US GDP at odds with firmer monthly data, upside surprises to GDP data in Europe, and a number of releases indicating that consumers are continuing to spend despite their pessimistic outlook.

Individual share prices in Europe were still being driven by corporate profits; Siemens Energy, Porsche, and BioNTech were just a few of the firms who released their earnings reports on Monday before the bell.

After Deutsche Bank increased its price objective for the stock, the British financial services business Hargreaves Lansdown increased by more than 7% to take the top spot in the Stoxx 600.

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