© Reuters A graph of Germany’s stock price index DAX is seen on the Stock Exchange in Frankfurt, Germany, September 5, 2022. REUTERS/Staff
(Reuters) – European shares rose on Tuesday after a rocky start to the week as the looming energy crisis and recession fears weighed on appetite, with Credit Suisse Group rising after the lender agreed to sell its global trust business.
It rose 0.5% in the previous session, recovering from a 0.6% loss on news that Russia had halted gas shipments to Europe via the Nord Stream 1 pipeline.
The index added 0.7% after falling more than 2% on Monday.
Investors have closely followed developments around the Nord Stream gas standoff, which has raised concerns about rising energy prices and winter shortages in the area.
Gazprom ( MCX: ) Deputy CEO Vitaly Markelov told Reuters that construction of Russia’s Nord Stream 1 pipeline to Germany will not resume until Siemens Energy fixes the faulty equipment.
Siemens Energy shares rose 3.1% after the company said it was not allowed to carry out maintenance work over the weekend.
Credit Suisse Group rose 1.9%, after the bank agreed to sell its global trust business to NT Butterfield & Son Ltd Bank and Gasser Partner Trust.