European stocks traded higher Tuesday, buoyed by China’s central bank monetary stimulus measures.
LONDON — European stocks traded higher Tuesday, buoyed by China's central bank monetary stimulus measures, and brushing off concerns over Europe's growth outlook.index was 0.8% higher by mid-morning, with mining, technology and household goods the best performing sectors and only telecoms, health care and utilities in negative territory.In a rare briefingfor banks by 50 basis points, although it did not provide a specific timeline.
a measure of business activity in the manufacturing and services sector, showing declines in SeptemberTuesday after the stock fell around 5.7% Monday after German Chancellor Olaf Scholz criticized what he described as UniCredit's"hostile" and"unfriendly" move on the bank, Reuters reported. On Tuesday, shares of Commerzbank were trading 2.4% higher.to around 21% and submitted a request to boost the holding to up to 29.9%, signaling a takeover bid might be on the cards.U.S.
The gains were modest but appeared to be a continuation of last week's rally after the U.S. Federal Reserve cut interest rates by half a percentage point. The fed funds rate now sits at a range of 4.75% to 5.00%Northvolt to cut 25% of its workforce in Sweden as part of a cost-cutting drive
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