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China-exposed European stocks rise after report of new stimulus

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LONDON : China-exposed European stocks rose on Tuesday after Bloomberg reported China is looking to increase its budget deficit for 2023, part of a new round of stimulus to help the economy.

Miners Anglo American , Antofagasta and Glencore, and financial services companies Standard Chartered and Prudential all rose 3-5 per cent.

Stephane Ekolo, global equity strategist at TFS Derivatives, said the news was “absolutely” driving price action in European assets.

“When China sneezes, the world catches a cold, so a new potential stimulus is seen as a positive catalyst,” Ekolo said.

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