European Shares Climb As China Scraps Inbound Quarantine Rules

RTTNews | 955 dagar sedan
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.

Stocktwits
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