The German share price index DAX graph is pictured at the stock exchange in Frankfurt. ― Reuters pic
EU summit Chairman Charles Michel presented the final plan as a “pivotal” moment to dispel doubts about the bloc's future. “It's a significant step towards a more integrated and united Europe, which should boost the region's appeal to global investors and facilitate its re-rating,” said Barclays' head of European equity strategy Emmanuel Cau.
With the EU recovery plan sealed, investors will now focus on further US stimulus after US$3 trillion was injected earlier this year. They are ignoring stretched valuations or buying 10-year debt instruments with negative yields, he said.
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