Brussels, December 27 (QNA) – The European stock opened high on Tuesday due to the rise in the global stock after China eased the restrictions that were imposed due to COVID-19, making further hopes for the recovery of the second largest economy in the world.
STOXX Europe 600 rose 0.6 percent after the weekend, after losing roughly 12 percent since the start of the year, while the concerns over economic recession had severe impact on European stock this year due to the stringent monetary policies executed by the central banks.
The shares of mining companies rose 1.2 percent and energy shares rose 1.4 percent, whilst commodity prices jumped on hopes of a recovery in demand in China.
The manufacturing and banking sectors increased for the second session in a row, lifting the broader European index.
(QNA)