European stocks rose on Tuesday as risk appetite improved after China eased the mandatory Covid-19 lockdown, while the rise in oil prices added further support to energy stocks.
The pan-European STOXX 600 index rose 0.27% to 416.19 points in the third session in a row. The gains of the indicator softened after the decline in US consumer confidence that pushed Wall Street down in June. Europe’s oil and gas sector rose 2% as major producers in Saudi Arabia and the United Arab Emirates were unable to increase production significantly.
Health officials in China said the country will halve the Covid-19 quarantine period for visitors from abroad to seven days, with three more days at home.
This was the latest decision to gradually ease restrictions against Covid-19, which has begun to hit the country’s economy and bolstered hopes for increased demand from the world’s second-largest economy and largest metals consumer China. . The core material index rose 1.2% as iron ore and base metals gained in value.
In LONDON, the Financial Times index rose 0.90% to 7,323.41 points.
In FRANKFURT, the DAX index rose 0.35% to 13,231.82 points.
In PARIS, the CAC-40 index rose 0.64% to 6,086.02 points.
On MILAN, the Ftse/Mib index gained 0.79% with 22,101.23 points.
In MADRID, the Ibex-35 index rose 0.91% to 8,317.50 points.
In LISBON, the PSI20 index rose 1.94% to 6,172.51 points.
source: Noticias
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