European stocks were mixed on Wednesday, with U.K. stocks outperforming as trading resumed after a long holiday weekend.
After China announced the re-opening of borders in a major shift of its epidemic response policies, several countries have announced safety measures like testing and medical scrutiny of passengers, coming from China and other countries where the virus is prevalent.
The pan European STOXX 600 was virtually unchanged at 428.03 after gaining 0.1 percent on Tuesday.
The German DAX slipped 0.2 percent and France’s CAC 40 index eased 0.1 percent while the U.K.’s FTSE 100 was up 0.7 percent, led by gains among commodity-related stocks and China-exposed financials.
Higher copper prices boosted miners, with Anglo American, Antofagasta and Glencore climbing 1-2 percent in London.
Oil and gas firm BP Plc rallied 2.2 percent and Shell added 1 percent as oil prices remained supported by news that Russia aims to ban oil sales from Feb. 1 to countries that abide by a G7 price cap imposed on Dec. 5.
Financials exposed to China rose, with HSBC Holdings and Prudential both rising around 2 percent.
China-exposed luxury firms such as LVMH and Kering were seeing modest gains in Paris on hopes of a demand revival in China.
Market Analysis
European Shares Mixed In Cautious Trade; FTSE 100 Outperforms
2022-12-28 09:47:23
