PARIS, Dec 28 — European stock markets opened firmer today, finding support after US President Donald Trump signed a new economic recovery package into law despite refusing to do so initially.
Progress on the coronavirus vaccine rollout helped sentiment but concerns over the emergence of new strains, said to be more infectious, made for caution.
Thursday’s post-Brexit trade accord after months of difficult negotiations was taken as at least better than no deal at all.
“With the Brexit ‘argy-bargy’ and the US stimulus deal now in the rear-view mirror, there is a sense of relief that we have avoided the respective worst-case scenarios, so we can start to narrow our focus for 2021,” Stephen Innes, Chief Global Markets Strategist at Axi, said in a note.
Trade was modest, with London closed for a public holiday.
In Paris, the CAC 40 index rose 0.72 per cent to 5,562.04 points.
The Frankfurt DAX put on 1.26 per cent to a record 13,758.48 points, with dealers citing the Brexit trade accord as a major positive for Europe’s biggest economy and trade powerhouse.
The market is “breathing a sigh of relief” after the Brexit deal, said independent analyst Timo Emden.
Emden added that “it remains crucial for the markets that Covid-19 is brought under control as quickly as possible.” — Reuters
