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European shares rise on virus curb relaxation, vaccine cheer

Published 25/11/2020, 09:20
© Reuters.
UK100
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FCHI
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STOXX
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SXEP
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SX7P
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VMUK
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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 25 (Reuters) - European shares held steady near
nine-month highs on Wednesday as a relaxation of coronavirus
restrictions in the region and growing hopes that a vaccine
would soon be ready kept sentiment afloat.
The pan-European STOXX 600 index .STOXX edged up 0.3%,
with banking stocks .SX7P rising 1.6% after a report suggested
that the European Central Bank could signal a lift on a ban on
bank dividends next year. Energy stocks .SXEP continued to surge as crude prices
extended a rally on hopes of a quick recovery in fuel demand.
Germany and the four nations of the United Kingdom unveiled
plans to allow gatherings with limitations for Christmas, while
France will start easing its lockdown this weekend after a sharp
drop in new infections and hospitalizations. London's blue-chip FTSE 100 index .FTSE rose 0.4%, while
France's benchmark CAC 40 index .FCHI climbed 0.4% in early
trade.
In company news, Virgin Money UK VMUK.L dropped 4.8% after
the lender reported a slump in annual profit as it took a 501
million pound ($669.54 million) impairment charge against an
expected surge in bad loans. = 0.7483 pounds)

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