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REFILE-European shares cheer Brexit trade talks extension; AstraZeneca drops

Published 14/12/2020, 09:13
© Reuters.
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Dec 14 (Reuters) - European shares rose on Monday, as a
decision to extend trade talks between Britain and the European
Union kept hopes of an eventual deal alive, but London's
blue-chips lagged on a higher pound as well as a 6.3% drop in
AstraZeneca.
The pan-European STOXX 600 index .STOXX rose 0.9% after
breaking a five-week winning streak to end 1% lower last week.
Leaders from both sides decided to extend talks beyond a
Sunday deadline in an attempt to secure a deal to govern around
$1 trillion in trade, currently free from tariffs and quotas.
The pound, battered recently by the prospect of a chaotic
British exit from the bloc, rose more than 1%, weighing on
London's export-heavy firms that earn revenue in dollars. GBP/
The FTSE 100 .FTSE was flat as gains in most sectors were
offset by a slide in AstraZeneca AZN.L . The drugmaker said
over the weekend, it would buy U.S. drugmaker Alexion
Pharmaceuticals ALXN.O for $39 billion in its largest ever
deal.

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