European stocks higher on hopes for a Brexit trade deal

LONDON — European markets opened higher on Wednesday as traders hoped a Brexit trade deal could possibly be reached amid issues over the approval of a long-delayed U.S. coronavirus stimulus bundle.

The pan-European Stoxx 600 index was up 0.5% throughout morning offers, with autos stocks climbing 1.6% to steer the beneficial properties. Health care stocks bucked the pattern to slide round 0.3%.

On Tuesday, EU chief Brexit negotiator Michel Barnier mentioned the bloc was making a “final push” to strike a Brexit trade deal with Britain, however disagreements over fishing rights stay. There have been optimistic studies in regards to the talks, with the ITV’s Robert Peston claiming a deal could possibly be reached on Wednesday.

Stateside, President Donald Trump on Tuesday advised he might not signal the $900 billion Covid aid invoice handed by Congress earlier this week. Trump known as the measure an unsuitable “disgrace” and urged lawmakers to make a variety of modifications, together with bigger direct funds to people and households.

In Asia, stocks had been higher regardless of Trump’s remarks. MSCI’s broadest index of Asia-Pacific shares exterior Japan rose 0.6%.

On Wall Street, inventory futures stood little modified in in a single day buying and selling, largely recovering from earlier declines after Trump expressed issues with the brand new Covid aid bundle.

Back in Europe, France reopened its border to England on Wednesday, requiring passengers arriving on the border to have a unfavorable coronavirus check consequence. It comes after France imposed a ban on folks and freight coming from the U.Okay. amid issues over the apparently fast-spreading Covid pressure first recognized in southeast England.

Concerns over the financial influence of Britain’s powerful new lockdown measures geared toward curbing the unfold of the brand new coronavirus pressure, in addition to ongoing Brexit uncertainty, have weighed on investor sentiment not too long ago.

Travel and leisure shares acquired a enhance from information that France had lifted its journey restrictions Wednesday. British Airways mum or dad firm IAG rose 3% to steer the sector.

Looking at particular person shares, Daimler rose 3% towards the highest of the Stoxx 600 following a report from Handelsblatt that the German automaker is planning to record its vans enterprise.

At the European benchmark, Games Workshop fell virtually 2% whereas meal equipment supplier HelloFresh sank almost 3%.

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