Market Updates
China Optimism Lifts Resource and Luxury Stocks In Europe
Bridgette Randall
27 Dec, 2022
Frankfurt
European markets traded higher on China optimism and a rise in resource stocks.
China's health regulator said international visitors will no longer need mandatory quarantine from January 8. The quarantine requirement was in place for three years.
Chinese officials also plan to lift international travel for Chinese citizens but did not announce the date.
Resource companies also traded higher after crude oil prices rose on the expectations of rising demand from China.
European Stock Indexes Advance, Bond Yields Rise
The DAX index increased 0.4% to 13,995.10, the CAC-40 index added 0.7% to 6,550.66 and the FTSE 100 index advanced 3.73 points to 7,473.0 in Thursday's trading.
London trading is scheduled resume on Wednesday.
The yield on 10-year German Bunds increased to 2.51%, French bonds rose to 3.06%, UK gilts to 3.64% and Italian bonds to 4.61%.
Copper price increased to a 6-month high of $3.90 a pound on hopes of rising demand from China as social mobility resumes and business activities gather pace.
Crude oil traded higher but natural gas prices dropped to a six-month low on milder winter weather, above average wind power and ample gas supplies.
Natural gas storage facilities in the European Union were at 83.1% as of December 25th, according to Gas Infrastructure Europe.
Brent crude oil price increased 29 cents to $84.20 a barrel and the TTF natural gas futures price for immediate month delivery fell 3.5% to
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