European shares gain on China’s reopening optimism

BERLIN, Jan 20 — European shares climbed today, as optimistic investors gauged the potential impact of a week-long Lunar New Year holidays after China lifted its Covid-19 curbs, even as concerns over global economic slowdown continued to sap sentiment.China-exposed luxury stocks such as LVMH and Hermes International rose more than 1 per cent each amid optimism about China's reopening.

Energy stocks rose over 1 per cent, tracking crude prices on hopes of demand recovery in the world's second-biggest economy. China said on Friday the worst was over in its battle against Covid-19 ahead of what is expected to be one of the busiest days of travel in years, a mass movement of people that has fed fears of a further surge in infections.

Shares of Sweden's Ericsson fell 8 per cent as the networking and telecommunications firm's core earnings missed expectations for the third quarter in a row. Sandvik gained 3.4 per cent following a better-than-expected fourth-quarter earnings from the metal-cutting tools and mining gear marker. — Reuters

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Thai court orders Malaysian businessman deported to China | The Malaysian InsightPutrajaya fails in extradition request for Teow Wooi Huat.
Source: msianinsight - 🏆 8. / 63 Read more »

Wanted Malaysian businessman Tedy Teow to be deported to China, Thai court ordersBANGKOK: A Thai court on Wednesday (Jan 18) ordered that wanted Malaysian businessman Tedy Teow Wooi Huat be extradited to China to face charges in connection with fraud, though Malaysia too had filed an extradition request. Ngam kasih tembak mati ni cilaka punya manusia
Source: staronline - 🏆 4. / 75 Read more »

Marvel movies return to China after nearly four-year breakBEIJING (AFP): Chinese film fans on Wednesday (Jan 18) celebrated the return of Marvel movies to the country's cinemas after an absence of nearly four years.
Source: staronline - 🏆 4. / 75 Read more »

China's FDI shows increase in 2022CHINA's foreign direct investment from major countries generally showed significant increase in 2022, data from the Ministry of Commerce showed on Wednesday.
Source: staronline - 🏆 4. / 75 Read more »