European shares hit highest level since May 2022, buoyed by China reopening
Publishing timestamp: 2023-01-09 05:26:48
Summary
European markets rose to their highest level since May 2022, buoyed by the reopening of the Chinese economy. Technology stocks led the gains, followed by travel and leisure stocks. U.S. stocks also rose in early trade. Unemployment across the eurozone remained at a record low in November. Lidl reported a 24.5% increase in sales in the four weeks leading up to Christmas Day. Shares of Alibaba rose as Jack Ma reportedly gave up control of the company. Goldman Sachs said legacy automakers and parts manufacturers will attract new investors as they transition to electric vehicles and green technologies. BofA has added a number of biotechnology stocks to its list of top picks for the first quarter. European markets are expected to open positively ahead of flash PMI data for the euro zone in January.
Sentiment: POSITIVE
Tickers: .IXIC, 9999-HK, 700-HK, 1128-HK, 2282-HK, 1928-HK, 520-HK, .FCHI, .FTMIB, .DJI, CHF=, .GDAXI, BABA, .FTSE, 2020-HK, 6862-HK, QUOTES, .SPX, 880-HK,
Keywords: united states, china, stoxx 600, business news, breaking news: europe,
Source: https://www.cnbc.com/2023/01/09/european-markets-live-updates-stocks-data-news-and-earnings.html