European shares hit new highs after Xi-Biden talks By Reuters


© Reuters. A screen showing the movement of the German DAX index at the Frankfurt Stock Exchange on Tuesday. Photograph: Reuters.

(Reuters) – Some European stock indexes extended new record highs on Tuesday, helped by gains in Dutch technology investor Prosos and French luxury group Kering and optimism that tensions between the United States and China would ease.

The European index ended the trading session 0.2 percent higher, while the German index, the French index and the regional stock index rose to new record levels.

Markets remained in the positive territory throughout the day, which began with a meeting between US President Joe Biden and Chinese leader Xi Jinping, which the markets considered as evidence of an improvement in the tense relations between the two largest economies in the world.

Data showed that the gross domestic product of the euro area rose 2.2 percent on a quarterly basis in the third quarter of the year.

The Stoxx 600 hit a series of record highs in November, supported by a positive corporate earnings season, signs of monetary policy easing from the European Central Bank and encouraging economic data, helping investors look beyond inflationary pressures and a new wave of coronavirus infections across Europe. .

(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)

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