LONDON – European equities climbed on Thursday, spotting overnight in Asia-Pacific markets after a rise in the US stock market.
The pan-European Stoxx 600 rose 0.5% in early trading, with basic resources adding 1.2% to make a profit as all sectors and major wallets entered positive territory.
The momentum for European equities comes after a similarly exciting session in the Asia-Pacific overnight, bolstered by US trade; Asian stocks rose mostly on Thursday after the S&P 500 rose higher to a record high on Wednesday.
US equities futures also pulled higher in futures trading, suggesting that Wall Street could increase the profit that moved the S&P 500 to these record levels.
Investors appeared in the Fed’s last minute during Wednesday’s session, indicating that officials plan to keep pace with asset purchases for some time as the central bank works to stabilize prices and maximize employment. support.
Meanwhile, President Joe Biden spoke from Washington on Wednesday about his administration’s $ 2 billion infrastructure plan that includes a 28% increase in corporate taxes, noting that he is willing to negotiate the proposed tax increase.
European markets will be strengthened by announcements from the UK and European medicine regulators on Wednesday regarding the AstraZeneca / University of Oxford Covid vaccine.
Both regulators said that although a link between the vaccine and very rare blood clotting disorders is possible, the benefits of the shot still outweigh its risks. The UK has said that out of caution they will give another Covid vaccine to people under 30 in Britain.
UBS is holding its annual general meeting on Thursday, while Germany’s industrial orders are due for February.
There were few significant stock price movements early on, with Johnson Matthey’s 4.4% rise leading the Stoxx 600 after the UK chemicals company had a promising outlook for 2021.
At the bottom of the European blue chip index, UK insurer Direct Line Group slipped by 4.6%.
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