European shares rise as China COVID optimism lifts mood

Energy and healthcare stocks led European shares higher on Tuesday, following a strong handover from Asia where sentiment was boosted by speculation that China could ease COVID-19 curbs after recent protests.

The pan-European STOXX 600 index (.STOXX) rose 0.3% by 0805 GMT. The index marked its worst session in almost two weeks on Monday on protests in China and worries about COVID curbs hitting economic growth in the world's second-largest economy. Asian shares rallied strongly as they looked to a press briefing from China's health officials to ramp up bets that the recent public unrest might prompt an earlier loosening in COVID-19 restrictions.

China's National Health Commission issued a notice to increase COVID vaccinations for the elderly and shorten the time between vaccinations, while a health official said the unrest stemmed from overzealous implementation rather than the measures themselves.

Among economic cues, investors will be watching for German inflation data for November - expected to decline from the month before - later in the day, as well as final November consumer confidence data for the euro zone.

Related Posts
Commnets
or

For faster login or register use your social account.

Connect with Facebook