📆 Tuesday, September 24
► European stocks advanced, with the Stoxx 600 Index rising more than 0.7%, driven by additional Chinese economic measures to boost economic growth – our chief analyst was already expecting such measures from the Chinese government yesterday. Sectors with heavy exposure to China, including miners, luxury goods makers, and automakers, led the rally. Companies like Rio Tinto and BHP Group gained as Brent crude prices topped $74.5 a barrel (WTI $71.5; spot price). Investors also noted that the stimulus measures from China helped offset lingering concerns about slowing economic growth in Europe. Business Climate data from IFO showed that that German companies are more pessimistic than expected about the current business situation and the business outlook.
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