Skip to Content

Saturday, January 23rd, 2021

European Markets Begin Final Trading Week of 2020 on Upbeat Note

by December 28, 2020 General

European markets were rising Monday, reflecting investors’ confidence after U.S. President Donald Trump relented and signed a $900 billion economic stimulus package he had seemed to oppose.

France’s benchmark CAC-40 was 1.1% higher at the midday trading mark, while the DAX index in Germany surged 1.4%. Britain’s FTSE index is closed for the nation’s Boxing Day holiday.

Trading was also robust in the Asia-Pacific region earlier Monday. Japan’s benchmark Nikkei index finished 0.7% higher. The S&P/ASX index in Australia was up 0.3%. Taiwan’s TSEC index gained a full one percent, while the Sensex in Mumbai finished 0.8% higher.

Shanghai’s Composite earned nearly three-quarters of one point, but was unchanged percentage-wise (+0.02). South Korea’s KOSPI index was also unchanged (+0.06) after earning 1.74 points.

Hong Kong’s Hang Seng index closed 0.2% lower.

The $900 billion measure President Trump signed into law Sunday night includes an additional $300 in weekly jobless benefits, and $600 in direct payments to millions of individual Americans. The measure is part of a larger package that funds the federal government through September.

In commodities trading, gold was selling at $1,880.30, down 0.1%. U.S. crude oil was selling at $48.67 per barrel, up 0.9%, and Brent crude oil rose 0.8%, selling at $51.73 per barrel.

All three major U.S. indices were trending positively in futures trading as Wall Street prepared to return to trading after the Christmas holiday.

Source: Voice of America