PARIS, Dec. 28 – Stronger European stock markets opened today, seeking support after U.S. President Donald Trump signed a new economic recovery package into law despite refusing to do so in the first place.
Advances in the spread of coronavirus vaccine have helped sentiment but concerns have been raised about the appearance of new rays, which are said to be more contagious, for warning.
Thursday’s post-Brexit trade deal after months of difficult negotiations was taken as at least better than no agreement at all.
“With Brexit ‘argy-bargy’ and the US stimulus pact now in the back view, there is a sense of relief that we have avoided the worst of situations, so that we can begin to focus on reduction for 2021, ”Stephen Innes, Axi’s Chief Global Markets Engineer, said in a note.
Trade was relatively small, with London closed for public holidays.
In Paris, the CAC 40 index rose 0.72 percent to 5,562.04 points.
The Frankfurt DAX rose 1.26 percent to 13,758.48 points, with retailers citing the Brexit trade deal as a key positive for Europe’s largest economy and trading powerhouse.
The market is “breathing a sigh of relief” after the Brexit deal, said independent analyst Timo Emden.
Emden said “it remains vital for the markets that Covid-19 is brought under control as soon as possible. ”- Reuters