Germany’s trade rose to about 0.39% in early trade, France’s CAC40 rose about 0.7%, and Italy’s FTSE MIB reduced by about 0.09%. The U.K’s FTSE index is closed on Tuesday for a public holiday.
Sector-wise, autos and chemicals added 1.6% to lead gains as both sectors traded in good areas.
Stocks in Europe got a boost from their counterparts in Asia-pacific after China officially announced that it would end quarantine for inbound travelers on Jan 8. They were ending the zero Co-vid policy they had followed for almost three years. Health officials were told to hold a press meeting about covid at 3 pm Beijing time.
The Shanghai composite rose 0.98%, and the Shenzhen composite gained about 1% on the news while markets in Hong Kong, Australia, and New Zealand were on and off for the Christmas holidays.
Stateside U.S stocks futures were rising on Tuesday morning as investors wanted to see whether a Santa Claus rally would appear before the year’s end.
Friday marked the start of the period for the Santa Claus rally, which is considered the five-day trading stretch in the current year and the first two trading days in the next two years. Markets were closed on Monday for the Christmas holiday.
There are no significant earnings or data releases in Europe on Tuesday.
- Published By Team Timeswire