Europe Markets: European stocks rise at the open on lockdown-lifting optimism
European stocks rose on Monday on optimism over lockdown restrictions being lifted across the globe.
Stocks hit hard during the crisis including Virgin Money UK
led the gainers, while more defensive healthcare stocks including GlaxoSmithKline
Worldwide there’s been a pickup in new virus cases, notably in Africa, Brazil and Russia. South Korea has seen a new cluster linked to nightclubs.
But financial market attention was focused more on signs of more economic activity, with U.K. Prime Minister Boris Johnson on Sunday announcing a relaxation of restrictions and Shanghai Disneyland reopening to mask-wearing visitors.
fell 3.5% as the U.K. government discussed over the weekend a 14-night quarantine on incoming travellers. Airlines UK, a trade body, said it’s been told the quarantine will start at the end of the month.
The yield on the 10-year Italian government bond
fell 4 basis points as European Central Bank board member Isabel Schnabel said in an interview with La Repubblica that the central bank is committed to countering a divergence in spreads.
Futures on the Dow Jones Industrial Average
rose 70 points.