European tech stocks went up by 1.4% after heavily indebted property firm China Evergrande Group had met an interest payment on a dollar bond, averting a default for now. The news was led by a person with direct knowledge on the matter.The group remitted $83.5 million in coupon payments to a trustee account at Citibank on Thursday according to a report from Reuters. This means that the deeply indebted company will be able to pay interest to all bondholders before the expiry of a 30-day grace period on October 23rd.Succeedingly, The Stoxx Europe 600 gained 0.15%, the FTSE 100 rose 0.4%, the CAC 40 advanced 1.1% and the DAX 40 climbed 0.6%. Brent crude increased 0.4% to $84.93 a barrel. Among sectors, European personal and household goods as well as tech rose 1.6% and 1.3%, respectively, and were on the list of top gainers. The surge in technology stocks and strong earnings from France’s L’Oreal, provided further support for European stocks to trade near six-weeks highs. ActivTrades analyst Pierre Veyret says: “Stocks traded significantly higher shortly after Friday’s opening bell in Europe, extending the bullish trading stance in Asia overnight, following positive developments in the Evergrande case”.Though investors might be optimistic about the early payment by the Chinese property giant, this mood might be short-lived as investors’ biggest concern still remains inflation.Resources: https://www.investing.com/news/stock-market-news/european-stock-futures-higher-evergrande-coupon-news-helps-2652017 https://www.investing.com/news/economy/asian-tech-shares-jump-china-property-stocks-rally-as-evergrande-makes-payment-2651946 https://www.reuters.com/world/asia-pacific/dollar-edges-lower-evergrande-news-aussie-kiwi-shines-2021-10-22/