European shares rise as luxury stocks shine on China hopes

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Reuters UK

By Susan Mathew (Reuters) -European shares scaled over three-week highs on Monday as easing COVID-19 restrictions and new stimulus in China helped carry on last week’s optimism, while investors looked for more economic data this week, including German inflation. Authorities in China’s commercial hub of Shanghai will cancel many conditions for businesses to resume work from Wednesday, while city officials also announced an action plan to boost the economy, keeping up hopes of growth and demand from the world’s second largest economy. The pan-European STOXX 600 index rose 0.8% by 0824 GMT with l…

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