Europe opens higher on US stimulus hopes

Monday, 25. January 2021 09:02

Major stock market indexes in Europe opened with gains on Monday after the Biden administration in the United States said they want to pass a new economic stimulus bill in Congress. Additionally, the number of daily COVID-19 cases in Germany fell back to October lows and focus shifted slightly to company news as Philips reported a jump in sales in the fourth quarter and Tesco announced a special dividend payment following the sale of its businesses in Asia.

The DAX started 0.51% higher at 9:02 am CET. The index was led by Covestro which traded 2.15% up at 9:16 am CET. The FTSE 100 was 0.23% in the green at 9 am CET as Evraz gained 2.68% at 9:02 am CET. The CAC 40 increased by 0.45% in the first minute of trading, with ArcelorMittal rising 2.46% at 9:03 am CET.

The euro was 0.06% higher compared to the dollar, going for 1.21743 at 9:15 am CET and the pound increased by 0.13% against the greenback to change hands for 1.36996 at the same time.

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