Share Video

Kari Lake, a Republican candidate for governor of Arizona, is appealing the judge's ruling that her case contesting her midterm loss should be dismissed. To...

History shows that who were the most resilient and who's who. The present shows that who is going to ...

The Sangke River will be mostly drained by the Battambang province government in order to improve the river's ecosystem and riverbanks.Sok Lou, the governor...

We are now officially in the 2024 presidential cycle because the last elections have been successfully concluded and the last funding reports for 2022...

In his Christmas address to the nation, President Joe Biden tried to convey a message of unity as he enters the second half of...

Diem's overthrow had been attempted in 1960 and 1962, respectively. He had held onto power both times, but in 1963, things got harder for...

Elon Musk, CEO of Twitter, disregarded Anthony Fauci's advice and established Twitter's rules by pledging to adhere to science, which must involve asking challenging...

The United States and India are the two largest democratic countries in the world. More importantly, the two countries have a common potential enemy,...

Authorities have detained 29 Poipet drug users. The Ministry of Interior reports that at 4:30 pm on December 28, 2022, in the noodle store in...

In advance of a state legislative session he hopes would spotlight issues that may aid him in a presidential primary, Florida Governor Ron DeSantis...

"U.S. authorities said that Ukraine cannot get Patriots when the full-scale assault began because, as you said, it might be a pointless escalation. And...

Phnom Penh is known for its heavy traffic along its main streets, but since multiple flyovers and underpasses were built and made operational, the...

NEW DELHI — According to financial projections, India's economy is growing at the quickest rate among major economies and is on course to overtake...

1) Like Nazi Germany, revanchist, imperialist, genocidal, and fascist Russia is a world power. Our expectations that Russia will eventually achieve some kind of...

Diem's overthrow had been attempted in 1960 and 1962, respectively. He had held onto power both times, but in 1963, things got harder for...

To ring in 2023 with lavish dining and to party in the hotel and park, as well as at NagaWorld and Hun Sen Park...

European stocks rise on hope for China’s rebound

Published:

Share post:

Following China’s further relaxation of its COVID-19 restraints, which raised expectations of a revival in the world’s second-largest economy, European markets rose on Tuesday, tracking a global surge in stocks. The STOXX 600 index for all of Europe (.STOXX) increased by 0.4% to start the week with fewer trading days higher. China announced on Monday that it would eliminate the three-year quarantine period for foreign visitors, significantly relaxing border procedures to combat COVID.

Most European bourses rose in early trading despite London and Dublin’s markets being closed for the Christmas holiday.

According to Ipek Ozkardeskaya, senior analyst at Swissquote Bank, Friday’s in-line U.S. inflation figures and China’s reopening could give the stock market a “small boost.”

The increase of COVID-19 cases in China, however, “may cast a shade over the reopening shine,” Ozkardeskaya noted.

Luxury companies LVMH (LVMH.PA) and Richemont (CFR.S) that are exposed to China both increased by almost 1.7%.

According to Refinitiv statistics based on Thursday’s closing price, mining (.SXPP) and energy (.SXEP) stocks increased 1.0% and 1.4%, respectively, as commodities prices soared on expectations of a revival in demand in top consumer China. These industries also increased on the day.

The broader European index was helped by gains in industrials (.SXNP) and banks (.SX7P) for the second consecutive session.

Despite challenges from the energy crisis, a lack of raw materials, and a sluggish global economy, German companies anticipate just a slight recession in 2013, according to a Reuters study.

Europe’s largest economy, Germany, saw a 0.5% increase in stock prices (.GDAXI)

As a result of aggressive monetary policy tightening by central banks throughout the world, the European STOXX 600 index has lost about 12% of its value so far this year and is on pace to have its worst yearly performance since 2018.

One company that moved significantly was Leonteq (LEON.S), which dropped 4.4% after the Swiss fintech company said it was decreasing its profit forecasts for 2022 owing to weaker client demand in the second half of the year.

Lotus Bakeries NV (LOTB.BR), a Belgian company, dropped 4.6% and finished at the bottom of the index.

Share post:

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
spot_img

Related news

How the ancient Egyptians mummified the dead is revealed by the discovery of an embalming workshop

Scientists have uncovered the materials and mixtures that ancient Egyptians used to mummify the dead from the remnants...

AOC Paid a Chinese Foreign Agent for Campaign Ads with Cash

According to reports, Democratic Alexandria Ocasio-Cortez gave American money to a Chinese Communist Newspaper for advertising. Representative Alexandria Ocasio...

The Colorado courts are out to get Jack Phillips

American baker Jack Phillips must be both the finest and the worst. We have never previously witnessed a...

Rare Piebald Baby Deer Gave Unique View Of Beauty Of Nature’s Oddities

Deer Tracks Junction, an amusement park and farm hybrid located in Cedar Springs, Michigan, is "all about Family,...

A Federal Judge Rules That Wrongful Death Suit Against Rittenhouse Can Go Forward

A Wisconsin U.S. District Judge has decided that Kyle Rittenhouse can be sued for wrongful death. Kyle Rittenhouse has...

A Vienna court sentences alleged shooters for the Islamic State in 2020 to prison

Due to their suspected connections to an Islamic State sympathizer who committed a deadly shooting in Vienna in...

A manslaughter trial against PG&E is scheduled due to the catastrophic California fires

A judge determined on Wednesday that Pacific Gas & Electric will go on trial for manslaughter for its...

The World Bank provides $311 million for renewable energy to four West African countries

The World Bank has made a $311 million loan arrangement for renewable energy projects with four countries in...