European shares gained on Monday after Britain and the European Union signed a long awaited trade deal, while a bumper U.S. stimulus package boosted investor sentiment for riskier global assets.
President Donald Trump on Sunday signed into law a $2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans and averting a federal government shutdown in a crisis of his own making.
The benchmark European stock index jumped 0.5 per cent, with automakers and energy stocks gaining the most.
European shares gained on Monday after Britain and the European Union signed a long awaited trade deal, while a bumper U.S. stimulus package boosted investor sentiment for riskier global assets
Stock markets around the world and U.S. futures rose on the back of Trump signing the measure.
In early trading, the FTSE 100 in London rose 0.1 per cent to 6,502.11 and the DAX in Frankfurt advanced 1.2 per cent to 13,756.71. The CAC 40 in France gained 0.5 per cent to 5,548.55.
On Wall Street, the future for the benchmark S&P 500 index was 0.6 per cent higher and that for the Dow Jones Industrial Average was up 0.4 per cent.
On Thursday, the S&P 500 index rose 0.4 per cent in its last pre-Christmas trading day. The Dow added 0.2 per cent. The Nasdaq composite gained 0.3 per cent.
In Asia, the Shanghai Composite Index rose less than 0.1 per cent to 3,397.29 while the Nikkei 225 in Tokyo added 0.7 per cent to 26,854.03.
The Hang Seng in Hong Kong declined 0.3 per cent to 26,314.63 after e-commerce giant Alibaba Group announced it was expanding a share buyback from $6 billion to $10 billion.
Alibaba shares declined 7 per cent following last week's announcement of an anti-monopoly investigation and the suspension of the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33 per cent stake.
In Seoul, the Kospi rose less than 0.1 per cent to 2,808.60 while India's Sensex added 0.8 per cent to 47,336.65.
Also supporting sentiment in Europe was the launch of the cross-border vaccination on Sunday, fuelling hopes of a pandemic-free second half of 2021 and of a strong economic rebound
Singapore and Jakarta advanced. Australian markets were closed.
Also supporting sentiment in Europe was the launch of the cross-border vaccination on Sunday, fuelling hopes of a pandemic-free second half of 2021 and of a strong economic rebound.
Britain signed the Brexit trade deal late on Thursday, just seven days before it exits one of the world's biggest trading blocs.
London markets were shut for the Boxing Day holiday, meanwhile trading volumes are expected to be light in European stocks in another holiday shortened week.
Cabinet office minister Michael Gove said on Monday that most British businesses have made preparations for the end of the Brexit transition period.
He went on to highlight the importance of being ready for changes to trading and regulatory rules.
Asked if businesses were ready for the end of the transition period on December 31, when Britain finally leaves the European Union's customs union and single market, Gove said: 'Yes. The overwhelming majority of businesses have been getting ready, absolutely.'
'I think business is broadly in a good place but inevitably with any change, with any transition, there are occasional bumpy moments.'
https://news.google.com/__i/rss/rd/articles/CBMiemh0dHBzOi8vd3d3LnRoaXNpc21vbmV5LmNvLnVrL21vbmV5L21hcmtldHMvYXJ0aWNsZS05MDkyMzM5L0V1cm9wZWFuLXNoYXJlcy1qdW1wLTAtNS1UcnVtcC1zaWducy1Db3ZpZC0xOS1yZWxpZWYtYmlsbC5odG1s0gF-aHR0cHM6Ly93d3cudGhpc2lzbW9uZXkuY28udWsvbW9uZXkvbWFya2V0cy9hcnRpY2xlLTkwOTIzMzkvYW1wL0V1cm9wZWFuLXNoYXJlcy1qdW1wLTAtNS1UcnVtcC1zaWducy1Db3ZpZC0xOS1yZWxpZWYtYmlsbC5odG1s?oc=5
2020-12-28 09:23:00Z
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