EU equities rise as China stimulus pledge helps safe stocks

LONDON - European stocks were higher on Tuesday as investors bought consumer staples and other stocks considered safer during economic strife after China pledged more stimulus to stabilize slowing growth in the world’s No.2 economy.

Tobacco, healthcare and consumer staples, considered havens during political and economic turmoil, led the gains amid broader gloom about the global economy. British American Tobacco, Anheuser Busch and Unilever were up between 1.2 percent and 2.1 percent. While the cut underlined the strain that has slowed growth and roiled global markets, stimulus steps reassured investors that Beijing was serious about steadying the economy.

Later in the day, the U.S. ISM non-manufacturing data will offer an insight into Friday’s non-farm payrolls data and is expected to show an improvement on January’s data which came during the U.S. government shutdown.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks edge lower as investors keep focus on ChinaU.S. stocks struggle for direction as investors continue to eye trade talks between Washington and Beijing while also weighing a lackluster growth target set by China’s government for the year ahead.
Source: MarketWatch - 🏆 3. / 97 Read more »

Investors don't understand just how important China is for European stocks, asset manager saysInvestors don't seem to understand the importance of China's economy for European stocks, particularly for Germany and Northern Europe, according to Philip Saunders, co-head of multi-asset at Investec Asset Management. Who are these “investors” with neither brains, nor AI ? Is that why Europe has turned a blind eye to their human rights abuses and kowtow like an eunuch these days? merkel is trash
Source: CNBC - 🏆 12. / 72 Read more »