Europe: Stocks rise on vaccine hopes, EU stimulus deal

[LONDON] Europe's stock markets advanced at the open on Tuesday on coronavirus vaccine hopes and after EU leaders finally clinched a landmark 750-billion-euro (S$1.19 trillion) stimulus deal.

London's benchmark FTSE 100 index won 0.6 per cent to 6,296.10 points compared with the closing level from Monday.

In the eurozone, the Paris CAC 40 index jumped 1.1 per cent to 5,146.48 points and Frankfurt's DAX 30 added 1.5 per cent to 13,237.82.

"A combination of vaccine optimism and fiscal stimulus is boosting the mood in the market on Tuesday," said City Index analyst Fiona Cincotta.

"Encouraging results from Oxford's vaccine candidate, in addition to EU leaders agreeing to a 750-billion-euro recovery fund, is overshadowing rising tension between the UK and China - and soaring Covid-19 numbers in California."

AFP

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