© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 5, 2022. REUTERS/Staff
(Reuters) – European shares climbed on Tuesday, following a rough start to the week as worries over a looming energy crisis and recession weighed on risk appetite, while Credit Suisse Group rose after the lender agreed to sell its global trust business.
The index rose 0.5% just moments after the opening bell, on track to recover from a 0.6% loss marked in the previous session on news that Russia stopped pumping gas via the Nord Stream 1 pipeline to Europe.
index climbed 0.7% after slumping more than 2% lower on Monday.
Investors closely followed developments around the Nord Stream gas stoppage, which sparked worries about surging energy prices and winter shortages in the region.
Gazprom (MCX:) Deputy Chief Executive Officer Vitaly Markelov told Reuters the Russian Nord Stream 1 pipeline to Germany will not resume shipments until Siemens Energy repairs faulty equipment.
Shares of Siemens Energy climbed 3.1% after the company said during the weekend it had not been commissioned to carry out the repair work.
Credit Suisse Group gained 1.9% as the bank agreed to sell its global trust business to The Bank of N.T. Butterfield & Son Limited and Gasser Partner Trust.
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