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Wall Street and European stock markets rose on Monday, powered by banks and industrial businesses that investors expect to benefit from economic growth.
The blue-chip S&P 500 opened 0.8 per cent higher, with its basic materials sub-index gaining 1.1 per cent, energy producers adding 2.2 per cent and banks rising 0.9 per cent.
A similar trend was under way in Europe, where the regional Stoxx 600 index rose 0.8 per cent, led by banks and energy stocks. The technology-focused Nasdaq Composite traded flat.
The S&P had its worst week since June last week, although it remains close to the all-time high reached earlier this month, as investors fretted about the Federal Reserve cutting its $120bn a month of bond purchases designed to boost lending and spending throughout the pandemic.
Comments in recent days from Fed officials, however, have nudged…