European shares extend gains on recovery hopes
European stocks climbed for a second straight session on Thursday, driven by hopes that a bumper U.S. stimulus package and large-scale coronavirus vaccine rollouts across the continent will spur a strong economic recovery. The pan-European STOXX 600 index rose 0.4% to hold near February 2020 highs, while London's blue-chip FTSE 100 gained 0.5% and Germany's DAX index was up 0.2%.
European stocks climbed for a second straight session on Thursday, driven by hopes that a bumper U.S. stimulus package and large-scale coronavirus vaccine rollouts across the continent will spur a strong economic recovery.
The pan-European STOXX 600 index rose 0.4% to hold near February 2020 highs, while London's blue-chip FTSE 100 gained 0.5% and Germany's DAX index was up 0.2%. Growth-linked cyclical sectors such as miners, energy and construction & materials continued their rally on the prospects of more U.S. stimulus after Democrats won control of the Senate.
Among individual stocks, Delivery Hero slipped 1.8% after the German food delivery firm said it had raised around 1.2 billion euros ($1.48 billion) by issuing new shares to fund growth. LafargeHolcim rose 1.4% after the world's biggest cement maker said it would buy Firestone Building Products from Bridgestone Americas in a deal worth $3.4 billon.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
ICC has no authority to probe Philippines, Marcos tells Germany's Scholz
Germany is only halfway through property crisis, says Commerzbank real estate boss
Pakistan Tehreek-e-Insaf finalises Senate candidates; elections set for April 2
Entertainment News Roundup: Gwyneth Paltrow's next step in wellness journey: finding calm; 'Sunset Boulevard' leads nominations at London's theatre Olivier Awards and more
Naomi Campbell's enduring fashion career will be celebrated with a London museum exhibition