European shares slip as China's COVID surge quells risk appetite

European shares slip as China
# 29 December 2022 21:28 (UTC +04:00)

European shares closed higher on Thursday, with technology stocks leading gains, buoyed by Wall Street cheer after U.S. jobless data eased concerns about the Federal Reserve's aggressive tightening cycle, APA reports citing Reuters.

The region-wide STOXX 600 (.STOXX) rose 0.7%. For the year so far, it has fallen nearly 12% as investors head into 2023 in a wary mood.

"Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe. The bar is low but arguably reasonably so," said Craig Erlam, senior market analyst at OANDA.