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China-exposed European stocks rise after report of new stimulus
  + stars: | 2023-10-10 | by ( ) www.reuters.com   time to read: +1 min
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - 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 (ANTO.L) and Glencore (GLEN.L), and financial services companies Standard Chartered (STAN.L), (2888.HK) and Prudential (PRU.L) all rose 3-5%. 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.
Persons: Peter Nicholls, Stephane Ekolo, China sneezes, Ekolo, Alun John, Amanda Cooper Organizations: Chartered, REUTERS, Bloomberg, Miners, HK, Prudential, TFS, Thomson Locations: London, Britain, China, American, Antofagasta
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