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European shares rise as China growth hopes boost luxury, tech stocks

The pan-European STOXX 600 index rose 0.6% to 447.79, a level not seen since early May, boosted the most by luxury firms, which derive significant demand from China

Photo: Bloomberg
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Photo: Bloomberg

Reuters
European shares touched their highest level in almost a month on Monday, with optimism buoyed by China's easing of COVID-19 restrictions and adding of new stimulus.
 
Authorities in China's commercial hub of Shanghai will facilitate conditions for businesses to resume work from Wednesday, while city officials announced an action plan to boost the economy, supporting hopes for improved growth and demand from the world's second-largest economy.
 
The pan-European STOXX 600 index rose 0.6% to 447.79, a level not seen since early May, boosted the most by luxury firms, which derive significant demand from China.
 
Loius-Vuitton owner LVMH, Hermes, Pernod Ricard

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First Published: May 30 2022 | 11:11 PM IST

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