European shares kicks off week on solid footing

Europe's STOXX 600 rose on Monday, supported by gains across all major sectors, rebounding from its worst weekly performance this year on worries of higher-for-longer U.S. and eurozone interest rates.

The blue-chip index (.STOXX) added 0.9%. It fell 1.4% last week after hotter-than-expected U.S. inflation data fuelled bets that the Federal Reserve would continue to raise rates.

All major euro area sector indexes rose in the first hour of trading, with 1.2%-1.6% gains in the riskier parts of the market, including oil & gas (.SXEP), technology (.SX8P) and autos & auto parts (.SXAP), reported Reuters.

Miners (.SXPP), among the biggest losers last week, bounced 0.8%. Defensive sectors such as healthcare (.SXDP) and telecoms (.SXKP) posted the smallest gains.

European retailers (.SXRP) rose 1.1%, led by a 3.1% increase in shares of Hennes & Mauritz (HMb.ST). Associated British Foods (ABF.L) climbed 1.2% as the Primark owner raised its full-year financial outlook following a strong first-half performance.