European stocks extend gains as Brexit deal boosts UK

A man wearing a face mask passes next to the sign of the Deutsche Boerse AG at the stock exchange in Frankfurt am Main, western Germany, December 28. — AFP pic
A man wearing a face mask passes next to the sign of the Deutsche Boerse AG at the stock exchange in Frankfurt am Main, western Germany, December 28. — AFP pic

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LONDON, Dec 29 — European stocks extended their year-end rally today as a Brexit trade deal, hopes of an expanded US stimulus package and euro zone’s marathon Covid-19 vaccination campaign brightened prospects for global growth in 2021.

The pan-European STOXX 600 was up 0.8 per cent by 0828 GMT, rising for a fifth straight session and scaling a new 10-month high.

UK stocks were higher after a long weekend, with the blue-chip FTSE 100 jumping 1.6 per cent after the sealing of a Brexit trade agreement between Britain and the European Union on Thursday.

The German DAX rose 0.6 per cent and extended a record run as global markets rallied on hopes that a long-awaited US pandemic relief package would be expanded.

Software group SAP provided the biggest boost to the DAX after its unit, Qualtrics International Inc, filed for a US initial public offering of up to US$100 million (RM405 million). — Reuters

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