European stocks followed Asia higher on Monday after better than expected data from China eased investors’ nerves over the sluggish post-pandemic recovery in the world’s second-largest economy.
Europe’s region-wide Stoxx 600 added 0.4 per cent at the opening bell, building on gains from the previous week, while France’s Cac 40 rose 0.3 per cent and Germany’s Dax advanced 0.4 per cent.
The indices were lifted by the strong performance in energy and basic materials stocks, as investors took heart from signs of resilient factory activity in China, amid concerns that the country struggled to recover after three years of severe Covid-19 restrictions. Adding to the momentum, late on Friday the Nasdaq Composite recorded its best first half of the year since 1983, with its 32 per cent gain powered by a handful of large tech stocks.
JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.
