European shares extend rebound as chemical, commodity stocks gain

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 20, 2022. REUTERS/Staff

June 21 (Reuters) – European stock markets extended a rebound on Tuesday, aided by gains in chemical, mining and oil stocks as dip buyers emerged after a bruising sell-off last week on recession fears.

The pan-European STOXX 600 index (.STOXX) rose 0.8%, stretching gains to a third session after hitting a more than one-year low last week.

Miners rose 1.2% as crude prices rose almost 1% on tight supplies of crude and fuel products.

Boosting chemical stocks, French industrial gas company Air Liquide (AIRP.PA) climbed 2.8% after striking its largest power purchase deal with Swedish utility Vattenfall.

French planemaker Airbus (AIR.PA) rose 2.0% after British airline easyJet (EZJ.L) said it would buy 56 Airbus A320neo aircraft. read more

Ocado (OCDO.L) dropped 4.5% after the British online supermarket and technology group said it would boost its liquidity by over $1 billion to fund its growth. read more

Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu

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