European stocks rose in early trade on Wednesday and the FTSE 100 outperformed its peers following a long Christmas weekend as investors assessed Beijing’s steps towards reopening its Covid-hit economy.
The STOXX 600 European shares rose 0.3 percent by 08:09 GMT, while the Financial Times 100 rose 0.9 percent, as commodity-related stocks and shares of companies with exposure to China rose. The British market has been closed since it opened for only half a session on Friday.
Mining stocks jumped in early trading as copper prices rose, thanks to hopes of a recovery in demand from the world’s second-largest economy, following China on Monday eased more of its strict anti-Covid restrictions. Traders and analysts said thin trading volumes also affected market movements.
