European shares rise for second day as commodity, construction stocks gain | Malay Mail

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FRANKFURT, Jan 8 ― European stocks climbed for a second straight session yesterday as construction stocks gained on upbeat sales forecast from Saint Gobain and commodity-linked shares rose on hopes of larger US stimulus after Democrats won Senate control. The pan-European STOXX 600 index advanced...

Friday, 08 Jan 2021 08:39 AM MYT

The pan-European STOXX 600 index advanced 0.5 per cent to near February 2020 highs, while London's blue-chip FTSE 100 gained 0.2 per cent and Germany's DAX index was up 0.6 per cent. “While a Blue Wave could pave the way for stricter regulations and tax hikes, investors try to see it from a positive side... and further stimulus measures are likely to follow and without a months-long stalemate,” said Milan Cutkovic, market analyst at Axi.

European wind turbine makers Vestas, Orsted and Siemens Gamesa all extended gains from the previous session. Meanwhile, demand for German-made goods defied expectations, rising 2.3 per cent in November, the latest in a string of data points showing the Europe's largest economy being unexpectedly resilient in the face of the pandemic.

 

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