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Europe: Stocks extend year-end rally on Brexit deal boost

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[BENGALURU] European stocks closed at a fresh 10-month high on Tuesday, powered by a Brexit trade deal, hopes of a bigger US stimulus package and a marathon Covid-19 vaccination campaign. Read more at The Business Times.

The coronavirus pandemic also remains as a source of uncertainty, given that economic ructions from the virus will persist in the time taken for widespread vaccination.

For the day, British e-commerce firm Hut Group topped the STOXX 600 after it said it would buy Dermstore, an online retailer owned by Target Corp for US$350 million in cash. The German DAX retreated 0.2 per cent from a record high, while France's CAC 40 index added 0.4 per cent.The US House of Representatives voted to meet President Donald Trump's demand for US$2,000 COVID-19 relief checks on Monday, sending the measure onto the Republican-controlled Senate.

Software group SAP rose 1.5 per cent after its unit, Qualtrics International, filed for a US initial public offering.

 

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