Morning Report 17 Jan 23: European sharemarkets hit a near 9-month high on Monday

Investor optimism over the global economy and signs that inflation is coming under control boosted shares. Real estate stocks led gains, up 2.1%. The continent-wide FTSEurofirst 300 index lifted 0.4%. And the UK FTSE 100 index was up 0.2%, inching closer to record highs. Asia-focussed financial stocks HSBC and Prudential rose 0.8% and 2.5%, respectively, on hopes that China's reopening from Covid lockdowns will boost the global economy. US sharemarkets were closed on Monday for the Martin Luther King Jr. Day public holiday.

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