European stock performance rises 1.5 per cent overnight | Englishheadline


CommSec’s Tom Piotrowski says the European stock performance has risen 1.5 per cent overnight.

The rise was “in a large part” attributed to gains received from mining stock which “really got a move on,” according to Mr Piotrowski.

“Rio Tinto shares for example, up by around 3.5 per cent, Glencore up by 2 per cent,” he told Englishheadline Australia.

“The latest pulse of optimism out of China is what drove that to an extent the Chinese authorities cutting reserve requirement ratios for Chinese banks – it means they have got more money to lend.

“The latest initiative on the part of the Chinese to get the economy moving along.”

Presented by CommSec.

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