Energy and Pharma sectors rose

[katie]

European markets were in the blue on Monday with the start of the new year. Energy and Pharma sectors rose with a lot of scope in these sectors.


Graham Secker, equity strategist at Morgan Stanley, said: "It's not surprising that the market has got off to a relatively strong start to the year. A lot of people derisked in the last month, both the investment banks and the hedge funds. People are going back in. It does look like the economic recovery is gathering pace. We don't think the sweet spot will last too long for equities."


Britain's FTSE 100 ended the day 1.6 percent higher; France's CAC40 and Germany's DAX rose 1.5 and 2 percent respectively.