Morning Report 21 Jun 22: European sharemarkets rose strongly on Monday

The pan-European STOXX 600 index gained 1.0%, with bank stocks up 3.3%. European Central Bank (ECB) Chief Christine Lagarde reaffirmed plans to raise interest rates twice over the coming months. France's CAC 40 index added 0.6%, lagging other major indexes, after French President Emmanuel Macron lost an absolute majority in the country's parliamentary election. The German Dax index lifted 1.1% and the UK FTSE index gained 1.5%. In London trade, shares of Rio Tinto fell by 1.0% and BHP shares shed 1.6%. 

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