London Stocks Soar On Post-Brexit Trade Deal

London stocks soared on Tuesday, investors were reassured by the long-awaited Brexit deal with the UK’s EU, eurozone stocks also rose with US stimulus, and Frankfurt extended record execution.

The UK capital’s benchmark FTSE 100 Index last traded on Christmas Eve before the long-awaited post-Brexit trade deal was announced, soaring 2.2% in midnight trading.

Britain and the European Union finally signed a trade deal on Thursday to greatly support Conservative Prime Minister Boris Johnson and ease the economic blow to Britain’s exit from the EU.

The pound rose against the dollar but was stable against the euro as dealers continued to digest the 1,246-page agreement.

AvaTrade analyst NaeemAslam said AvaTrade analyst Naeem Aslam said, “The Brexit deal is a real blessing for the UK and the FTSE100 Index. The FTSE100 is a delayed index and is shining now. There is no doubt about it. “

“European equities are still in Santa Rally mode, and traders just want to push them up because they know there is enough tailwind in the 2021 equity market,” he added.

The EU put a green light on the deal on Monday, paving the way for the New Year to come into effect. The British Parliament will try to ratify it this week.

“The market seems to welcome Brexit trading,” said Lasmold, investment director at AJ Bell.

“But the agreement between London and Brussels has not yet won universal praise, even if it is an inevitable result of the compromise that the Prime Minister had to make to reach an agreement. . “

Elsewhere, the Asian market almost followed a record lead from Wall Street on Tuesday as investors helped pass a huge US stimulus bill that helped ease concerns about the surge in coronavirus infections. It has risen.

Investor sentiment was hit again after US President Donald Trump signed the $ 900 billion (€ 735 billion) Covid-19 economic stimulus bill late Sunday.

“The quest for records continues,” said Andreas Lipkow, an analyst at ComDirect.

Frankfurt’s DAX index also rose to new heights on Tuesday, extending record execution as the market ended its strong year.

Asia also set a new peak, with Tokyo jumping 2.7% to the highest level in 30 years.

Meanwhile, European countries continue to increase vaccination, increasing optimism about the route out of the coronavirus pandemic.

Still, governments around the world are forced to impose blockades and other rigorous and economically distressing measures to contain the proliferation of Covid-19 cases.

Meanwhile, Trump postponed signing the US virus stimulus package for almost a week, stating he didn’t provide enough cash to Americans, and jacked handouts from $ 600 to $ 2,000 presented on the first invoice. I asked you to do it.

The Democratic-controlled House of Representatives has passed a bill to raise handouts to Americans from a new stimulus of $ 600 to $ 2,000.

The Democratic Party agreed that more was needed, and on Monday the House of Representatives approved a motion to increase payments.

London-FTSE 100: up 2.2% at 6,643.19 points

Frankfurt-DAX30: 13,831.72 up 0.3%

Paris-CAC 40: 0.4% increase at 5,610.83

EURO STOXX 50: 0.4% increase at 3,589.57

Tokyo-Nikkei 225: 27,568.15, up 2.7% (closing price)

Hang Seng Index: 1.0% increase 26,568.49 (closing price)

Shanghai-Comprehensive: 3,379.04 down 0.5% (closing price)

New York-Dow: 0.7% up at 30,403.97 (closing price)

Pounds / Dollars: UP from $ 1.3452 to $ 1.3492 at 2200 GMT

Euro / Pound: Fall from 90.81 Pence to 90.80 Pence

Euro / dollar: rising from $ 1.2216 to $ 1.2251

Dollar / yen: down 103.65 yen from 103.81 yen

West Texas Intermediate: $ 48.26 / barrel up 1.3%

Brent North Sea Crude: Up 1.1% to $ 51.50

London Stocks Soar On Post-Brexit Trade Deal Source link London Stocks Soar On Post-Brexit Trade Deal

Back to top button