The UK’s FTSE 100 led European stocks higher after survey data showed China’s manufacturing industry was not significantly derailed by the Omicron coronavirus variant.
The UK blue chip stock index, dominated by energy, commodities and financial stocks, which respond well to signs of robust global growth, rose 1 percent on Tuesday. London’s markets were closed on Monday for a public holiday.
Europe’s regional stock index Stoxx 600 gained 0.6 percent on Tuesday, building on a record from the previous trading session. In Asia, Tokyo’s Nikkei 225 closed 1.8 percent higher.
A purchasing managers’ index for China’s manufacturing sector compiled by Caixin and Markit rose to an unexpectedly high value of 50.9 in December. The index, which summarizes managerial responses to topics such as hiring plans and incoming orders, and shows expansion when it rises above 50, reached its highest level since June.
On Wall Street, futures indicated the S&P 500 stock index would open 0.2 percent higher after closing on Monday on a record close supported by gains for Apple and electric car maker Tesla.
Apple’s market cap rose to $ 3 trillion on Monday, making it the first company to achieve this rating.
US Treasury bond prices stabilized after falling sharply on Monday as traders exited assets sensitive to expectations of higher interest rates and inflation.
The return on the 10-year benchmark note, which is contrary to its price, was unchanged at 1.623 percent, after rising more than 0.13 percentage points in the previous session. The equivalent Bund yield, which determines the cost of borrowing in the euro zone, was constant at minus 0.132 percent.
Brent crude, the oil benchmark, was stable at $ 78.93 a barrel ahead of a meeting of the members of the Opec + producer group.