European stocks notch 23-month high

European markets powered upward on the first trading day of the new year, with the regional benchmark hitting its highest level in nearly two years.

The Stoxx 600 index was up 0.67% at 9 a.m. in London on Tuesday, trading at 482.04 points — its highest level since Jan. 20, 2022, according to LSEG data.

All sectors gained, with oil and gas stocks leading the charge as investors monitored tensions in the Red Sea and the impact on oil prices.

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.

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