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European shares rise on possible easing of COVID-19 curbs, vaccine progress

Published 24/11/2020, 09:21
© Reuters.
FCHI
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DE40
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DB1Gn
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PHNX
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STOXX
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SXEP
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SXTP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 24 (Reuters) - European shares gained on Tuesday as a
possible easing of lockdowns in France added to a brighter mood
from encouraging developments related to coronavirus vaccines.
The pan-European STOXX 600 index .STOXX was up 0.8% at
0805 GMT, supported by gains in travel stocks .SXTP and the
oil and gas sector .SXEP after global crude prices hit their
highest levels since March.
France reported its lowest daily tally of COVID-19
infections since Sept. 28 on Monday, with investors now focused
on a speech by President Emmanuel Macron later in the day when
he may announce a relaxation of lockdown rules. The country's benchmark CAC 40 .FCHI was up 0.9% in early
trade.
Germany's DAX .GDAXI rose 0.9%, with exchange operator
Deutsche Boerse DB1Gn.DE revealing that the blue-chip index
will expand to 40 from the current 30 companies with tougher
membership criteria. Data showed Germany, Europe's largest economy, grew by a
record 8.5% in the third quarter, but the outlook remains
clouded by a second wave of virus infections and a partial
lockdown to slow the spread of the disease. In company news, Phoenix Group Holdings PHNX.L fell 0.1%
as the London-based insurer said it was assessing a range of
strategic options for its European businesses.

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