Europe: Stocks extend gains over global growth prospects

[LONDON] European stocks extended their year-end rally on Tuesday 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.

REUTERS