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European stocks rise as investors assess the easing of Chinese restrictions

Adel 28 December, 2022 4:03 pm Forex Market, Market Update

European stocks rose in early trade on Wednesday and the FTSE 100 outperformed its peers after a long Christmas weekend as investors assessed Beijing’s steps towards reopening its Covid-hit economy.

The STOXX 600 European shares rose 0.3 percent by 0809 GMT, while the Financial Times 100 rose 0.9 percent, as commodity-related stocks and shares of companies with exposure to China rose. The British market has been closed since it opened for only half a session on Friday.

Mining stocks jumped in early trading as copper prices rose, thanks to hopes of a recovery in demand from the world’s second-largest economy, after China on Monday eased more of its strict anti-Covid restrictions.

Traders and analysts said thin trading volumes also affected market movements.

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