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(RTTNews) – European stocks opened higher on Tuesday as trading resumed after a long Christmas holiday weekend. U.K. markets remain closed for a public holiday.
The pan-European STOXX Europe 600 index was up half a percent at 429.65 after China decided to lift the mandatory quarantine rules for international travelers from January 8 in a major shift from its zero-COVID policy.
The German DAX climbed 0.8 percent and France’s CAC 40 index jumped 1.1 percent on hopes for a recovery in the world’s second-largest economy.
China-exposed luxury firms LVMH and Kering both rose around 2 percent on hopes of improved Chinese demand.
Skanska AB, a Swedish construction and development firm, gained 1.1 percent after it signed a $56 million worth contract with AECOM to repair Norfolk Naval Shipyard berths in Portsmouth, Virginia, USA.
Swiss fintech Leonteq tumbled nearly 4 percent after lowering its profit expectations for 2022, citing reduced client demand.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image and article originally from www.nasdaq.com. Read the original article here.