Tue, 24 Nov 2020

European stocks advance at open

News24
19 Oct 2020, 18:42 GMT+10

Europe's major stock markets climbed in opening deals on Monday with investors lifted by fresh optimism over a new US stimulus package.

London's benchmark FTSE 100 index of leading blue-chip companies rose 0.6% to 5 956.46 points, Frankfurt's DAX 30 was up 0.8% to 13 017.23 points and the Paris CAC 40 added 1.1% to 4 989.47.

Most Asian markets rose Monday on US stimulus hopes, although Shanghai turned lower after data showed China's economy grew at a slightly slower pace than expected.

With a little over two weeks until the November 3 elections, time is running out for US lawmakers to reach an agreement on much-needed coronavirus support but the talks remain bogged down.

Over the weekend, House Speaker Nancy Pelosi set a Tuesday deadline for a pact to be hammered out.

US President Donald Trump has urged his Republican party to offer more than the $1.8 trillion they have put forward, adding that he would be willing to go higher than the Democrats' $2.2 trillion proposal.

Source: News24

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