European markets were higher on Tuesday as investors in the region shrugged off concerns over China’s tightening of Covid restrictions, which are continuing to pressure output.
The pan-European Stoxx 600 was up 0.7% by mid-morning. Oil and gas stocks added 3.8% after Saudi Arabia denied a report that OPEC+ may boost oil output, as almost all sectors and major bourses traded in positive territory.
Investors continue to watch economic data closely and assess how it could affect the trajectory of monetary policy from central banks.
Global investors have taken some heart from recent, lower-than-expected consumer and wholesale inflation prints in the United States, prompting bets that the Federal Reserve would have to slow its aggressive interest rate hikes.