European equities advanced in the first trading session of the new year on Monday.
The pan-European Stoxx 600 climbed 1.2% in early trading, with travel and leisure stocks rising 3.2% to make a profit as all sectors and major wallets entered positive territory.
European markets pinned the trend in Asia and the US overnight; U.S. futures slipped Sunday night, while shares in Asia-Pacific were mostly higher.
Chinese shares in the mainland rose around noon after a private survey released on Monday showed Chinese manufacturing activity had expanded in December; China’s official manufacturing PMI announced last Thursday showed that the country’s manufacturing activity expanded in December, although it was slower compared to the reading in November.
The coronavirus pandemic remains the main focus for European markets now that the UK’s separation from the EU has been finalized on New Year’s Eve.
Trade relations between the UK and the EU after Brexit have now begun with spectators waiting to see if trade flows are disrupted by new rules and paperwork for exporters.