(Alliance News) – European stock markets moved higher Tuesday, with trading rooms welcoming the news that China will stop requiring inbound travelers to quarantine starting Jan. 8, ahead of the Chinese New Year vacation, marking another important step in efforts to reopen the country and boost market sentiment.
Investors are also hoping for a year-end rally after stocks were overwhelmed this month by aggressive signals from major central banks that fueled fears of a global recession next year.
On the Russian-Ukrainian conflict front, Ukraine aims to hold a peace summit with Russia by the end of February, preferably at the United Nations, with Secretary General Antonio Guterres as a possible mediator. The announcement was made by Kiev’s Foreign Minister Kuleba and opens a glimmer in the drama of the war.
As a result, the Mib marks a green of 0.6 percent to 24,029.53.
Among the smaller listings, the MidCap rises 0.5 percent to 39,626.87, the SmallCap rises 0.3 percent to 27,809.61, while Italy Growth advances 0.5 percent to 9,232.62.
Among other European exchanges, the DAX rises 0.8 percent, while the CAC 40 advances 1.1 percent.
Among stocks, Saipem rises well on the main basket, marking a plus 2.9%, as does parent company Eni, which stretches 1.3%.
Tenaris, on the other hand, rises 1.2%, with the stock marking an asset of more than 82% in 2022.
On the cadet segment, Juventus FC moves ahead 3.2%, while GVS advances 3.4%.
Among the few bearish performers on the list, Cembre retreats the most with 1.0% after a 1.3% green in the previous session.
On the SmallCap, Restart moves ahead 5.3%, rearing its head after three bearish sessions.
Good buying also on Mondo TV, which moves ahead 4.6%.
At the back of the pack-among the many on the losing side-Conafi, on the other hand, gives up 2.7 percent.
Among SMEs, Intred advances 8.1 percent, taking the top spot, while Health Italia scores a plus 6 percent.
Among the bearers, Finanza.tech gives up the most, retreating 3.5 percent.
Among currencies, the euro changes hands at USD1.0662 versus USD1.0621 at Friday’s close. By contrast, the pound is worth USD1.2108 from USD1.2063 on Friday evening.
Among commodities, Brent crude is worth USD84.49 per barrel from USD84.28 per barrel Friday night. Gold, on the other hand, trades at USD1,807.13 an ounce from USD1,810.60 an ounce Friday night.
On Tuesday’s economic calendar, overseas in the afternoon, it is the turn of the U.S. goods trade balance and wholesalers’ inventories.
Half an hour later, the housing price index will be released.
By Maurizio Carta, Alliance News reporter
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