The pan-European STOXX 600 index rose 0.8 percent to 520.40 points by 0711 GMT, while France’s CAC 40 index rose 1.4 percent, the best performer among its peers.
Chinese regulators announced on Tuesday the largest monetary stimulus and support measures. Real Estate Market Since the pandemic, it has cut bank reserves by 50 basis points while lowering mortgage rates.
Luxury goods stocks, which rely heavily on Chinese consumer spending, were the biggest gainers on the index.
LVMH, Hermes andKering Dior gains ranged between 3.8 percent and 4 percent.
The basic resources sector led the sectoral gains, jumping 4.4 percent after copper prices hit a two-month high, supported by China’s measures and improving demand in the region.
Britain’s FTSE rose 0.4 percent, supported by a rise in mining stocks on Chinese stimulus plans.
Markets are awaiting comments from European Central Bank Council member Elizabeth McCall, who is scheduled to speak later today.
On the corporate front, shares in British engineering firm Smiths Group fell 6.7 percent after its annual profits fell short of estimates.
