Europe stocks rise on vaccine hopes, EU stimulus deal

An European Union flag is seen outside the EU Commission headquarters in Brussels, prior to a meeting between Britain's Secretary of State for Exiting the EU Dominic Raab and EU's chief Brexit negotiator Michel Barnier, Belgium October 14, 2018. REUTERS/Francois Lenoir
An European Union flag is seen outside the EU Commission headquarters in Brussels, prior to a meeting between Britain's Secretary of State for Exiting the EU Dominic Raab and EU's chief Brexit negotiator Michel Barnier, Belgium October 14, 2018. REUTERS/Francois Lenoir

Europe's stock markets advanced at the open on Tuesday on coronavirus vaccine hopes and after EU leaders finally clinched a landmark €750-billion stimulus deal.

London's benchmark FTSE 100 index won 0.6% to 6 296.10 points compared with the closing level from Monday.

In the eurozone, the Paris CAC 40 index jumped 1.1% to 5 146.48 points and Frankfurt's DAX 30 added 1.5% to 13 237.82.


"A combination of vaccine optimism and fiscal stimulus is boosting the mood in the market on Tuesday," said City Index analyst Fiona Cincotta.

"Encouraging results from Oxford's vaccine candidate, in addition to EU leaders agreeing to a €750-billion recovery fund, is overshadowing rising tension between the UK and China - and soaring Covid-19 numbers in California."

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