Market Updates
Milan Found 50% of Passengers from China With Covid, European Markets Rebound
Bridgette Randall
29 Dec, 2022
Frankfurt
European markets rebounded from morning losses after sentiment improved and investors overlooked rate worries and rapid rise of infections in China.
Benchmark indexes in Germany, France and the U.K. recovered from morning weakness after investors shifted focus to earnings optimism for the current quarter and holiday sales.
Euro Area Money Supply Growth Eased
The European Central Bank said growth in money supply to the private sector and banks eased in November.
The broad money supply M3 increase slowed to 4.8% in November from 5.1% in October.
The narrower gauge Ma1 money supply slowed to 2.4% from 3.8% in the previous month.
Italy to Test All Arrivals from China
Investors were on the edge after the easing of zero-Covid policy in China and opening of borders is likely to spread Covid-variant infections around the world.
The Chinese government has stopped releasing infection data as of last week and more Chinese are traveling to international destinations.
The U.S. said Chinese visitors will require proof of a negative test and Italy said it would also test all passengers arriving directly from China.
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