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European stocks rise at open on recovery hopes

Investors have been emboldened this year as Covid vaccine rollouts, US President Joe Biden's $1.9-trillion stimulus and the easing of lockdowns have stoked economic recovery hopes.


Investors have been emboldened this year as Covid vaccine rollouts, US President Joe Biden’s $1.9-trillion stimulus and the easing of lockdowns have stoked economic recovery hopes.

  • European stock markets opened higher Monday on hopes that vaccines and stimulus would fuel global economic recovery.
  • In the eurozone, Frankfurt’s DAX 30 firmed 0.2% and Paris won 0.5%.
  • Italy reimposed restrictions across much of the nation to suppress a fresh outbreak fuelled by a variant that was first detected in Britain.

European stock markets opened higher Monday on hopes that vaccines and stimulus would fuel global economic recovery from the coronavirus crisis, dealers said.

In initial deals, London’s benchmark FTSE 100 index of major blue-chip companies added 0.4% to 6 788.60 points.

In the eurozone, Frankfurt’s DAX 30 firmed 0.2% to 14 535.65 and Paris won 0.5% to 6 077.57.

Asian bourses however diverged as an early rally lost momentum before Wednesday’s US Federal Reserve monetary policy meeting.

“Investors continue to anticipate speedy economic recoveries as the powerful forces of accelerating vaccine rollouts and significant financial assistance combine,” said Richard Hunter, head of markets at online trading firm Interactive Investor.

“The passage of the $1.9-trillion American rescue plan is set to release another boost to a US economy which was already showing some signs of a turnaround.

“Indeed, the current fear is that the package could actually overheat the economy, and the meeting of the Federal Reserve later in the week will need to allay that concern.”

Investors have been emboldened this year as Covid vaccine rollouts, US President Joe Biden’s $1.9-trillion stimulus and the easing of lockdowns have stoked economic recovery hopes.

However, Italy reimposed restrictions across much of the nation on Monday to suppress a fresh outbreak fuelled by a variant that was first detected in Britain.


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