European Shares Climb As China Scraps Inbound Quarantine Rules

RTTNews | 953 days ago
Stocktwits
European Shares Climb As China Scraps Inbound Quarantine Rules

(RTTNews) - European stocks opened higher on Tuesday as trading resumed after a long Christmas holiday weekend. U.K. markets remain closed for a public holiday.

The pan-European STOXX Europe 600 index was up half a percent at 429.65 after China decided to lift the mandatory quarantine rules for international travelers from January 8 in a major shift from its zero-COVID policy.

The German DAX climbed 0.8 percent and France's CAC 40 index jumped 1.1 percent on hopes for a recovery in the world's second-largest economy.

China-exposed luxury firms LVMH and Kering both rose around 2 percent on hopes of improved Chinese demand.

Skanska AB, a Swedish construction and development firm, gained 1.1 percent after it signed a $56 million worth contract with AECOM to repair Norfolk Naval Shipyard berths in Portsmouth, Virginia, USA.

Swiss fintech Leonteq tumbled nearly 4 percent after lowering its profit expectations for 2022, citing reduced client demand.

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DAX Modestly Higher As Investors React To Earnings

DAX Modestly Higher As Investors React To Earnings

Despite disappointing factory orders data, and U.S. President Donald Trump's threat that he would impose tariffs on pharma and chips, German stocks are gaining some ground in positive territory on Wednesday. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.
RTTNews | 19 minutes ago
Commodity Currencies Rise Amid Risk-Appetite

Commodity Currencies Rise Amid Risk-Appetite

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major peers in the Asian session on Wednesday, as Asian markets traded higher after Trump hailed his "good relationship" with his Chinese counterpart Xi Jinping, adding that a deal with China was taking shape.
RTTNews | 23 minutes ago
Downturn In UK Construction Activity Deepens

Downturn In UK Construction Activity Deepens

The UK construction sector downturn deepened in July as volumes of work carried out across all sectors decreased markedly, survey results from S&P Global showed on Wednesday. The headline construction Purchasing Managers' Index fell to 44.3 in July from 48.8 in June. The score signaled the sharpest contraction since May 2020.
RTTNews | 46 minutes ago
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