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LONDON. — European shares edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the US dollar held near a two-year high helped by elevated US Treasury yields as investors bet on fewer Federal Reserve rate cuts in 2025.
The pan-European STOXX 600 index was up 0,3 percent.
Britain’s FTSE 100 and France’s CAC 40 were both up 0,5 percent.
German stocks were closed for the Christmas holiday.
In Asia, Chinese stocks rose after sources told Reuters that Beijing planned to issue a record amount of special treasury bonds next year as it ramps up fiscal stimulus to revive a faltering economy.
The CSI300 blue-chip index and Shanghai Composite Index both ended 1,3 percent higher. Hong Kong’s Hang Seng Index advanced 1,1 percent.
The news came shortly after China’s finance ministry said authorities would ramp up fiscal support for consumption next year by raising pensions and medical insurance subsidies for residents as well as expanding consumer goods trade-ins.
Still, investors remain cautious on the outlook for the world’s second-largest economy, particularly as it faces the threat of hefty tariffs from US President-elect Donald Trump.
“China faces significant challenges entering 2025.
The ongoing real estate crisis has shattered consumer confidence while a potential trade war with the United States could trigger the worst growth slowdown in decades,” said Ronald Temple, chief market strategist at Lazard. — Reuters.
Online Reporter