Europe: Stocks steady with Trump back in the White House

[LONDON] Europe's main stock markets steadied in opening trade on Tuesday with investors relieved that US President Donald Trump has returned to the White House following hospital treatment for Covid-19.

Mr Trump's return lifted a major source of uncertainty over the looming US presidential election on Nov 3, which some had feared could have been delayed.

Sentiment was also bolstered by fresh hope for a new US stimulus package to fight the economic fallout from the pandemic, dealers said.

In initial deals, London's benchmark FTSE 100 index declined 0.1 per cent to 5,938.72 points.

In the eurozone, Frankfurt's DAX 30 added 0.1 per cent to 12,842.37 points and the Paris CAC 40 was up 0.2 per cent to 4,879.52.

"US President Trump... is back in the White House, much to the relief of the markets," said City Index analyst Fiona Cincotta.

"The president is planning on participating in the next presidential debate on 15th October, narrowing some of the uncertainties surrounding these elections which had notched up when Trump fell ill."

AFP

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