🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

European stocks rise as possible 'blue sweep' in Georgia lifts U.S. stimulus hopes

Published 06/01/2021, 09:22
Updated 06/01/2021, 09:24
© Reuters.
UK100
-
DE40
-
BP
-
TTEF
-
RDSa
-
STOXX
-
SX8P
-
SX3P
-
SX7P
-
SXAP
-
SXIP
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Jan 6 (Reuters) - European stocks rose on Wednesday, with
economically sensitive sectors such as energy and banks leading
the gains, as investors braced for a Democratic win in crucial
U.S. Senate run-off election in Georgia that could drive bigger
fiscal stimulus.
The pan-European STOXX 600 index .STOXX rose 0.4%, while
UK's FTSE 100 .FTSE edged 0.8% higher while Germany's DAX
.GDAXI gained 0.3%.
Oil majors BP BP.L , Royal Dutch Shell RDSa.L and Total
TOTF.PA gained as crude prices rose to their highest since
February 2020 on Saudi Arabia's pledge to cut output more than
expected in a meeting with allied producers. O/R
Banks .SX7P advanced the most, up 2.5%, while other
cyclical sectors such as automakers .SXAP and insurers .SXIP
added more than 1%.
While the final votes are yet to be counted in the run-off
elections, markets appeared to price in a 'blue wave' that could
usher in larger fiscal stimulus and pave the way for
President-elect Joe Biden to push through greater corporate
regulation and higher taxes. In Europe, a pullback in healthcare .SX3P , food & beverage
.SX3P and tech .SX8P shares capped gains in major bourses.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.