European stocks jump to 11-month high after Wall Street's record gains

European stocks rose on Friday, extending gains for the third straight session and hit an 11-month high, thanks to strong market sentiment after Wall Street scored record gains, in addition to a study about the effectiveness of the Pfizer-BoiNTech vaccine against the new Covid-19 strain.

The Stoxx Europe 600 index rose 0.5% as of 10:55 GMT, and hit the highest since February 2020 at 411.92 points, after it closed higher by 0.5% after fears over the US political tensions eased .

The pan European index opened higher today in the last session of the week and hit an 11-month high with most of the major European markets and sectors seeing green.

The tech sector saw the largest gains in Europe today, rising more than 2.5%, after strong gains in Wall Street.

S&P 500 futures rose 0.5%,  and hit an all-time high, after the index closed higher by 1.5% yesterday at Wall Street, and hit its record high of 3,811.55 points.

This came after the Congress on Thursday ratified Joe Biden's victory of the US presidential election after President Donald Trump supporters stormed Capitol Hill exchanging fire with the security forces.

After the Democrats won two seats in Georgia Senate - which gives them control over the Senate alongside the House of Representatives - the market sentiment improved, as they intend to inject massive stimulus packages to help the economy recovering from the coronavirus pandemic. 

A lab study showed that the Pfizer-BoiNTech vaccine is effective against the new variant of the coronavirus that was first identified in the United Kingdom and South Africa.

Back to Europe, the Euro Stoxx 50 index rose 0.6%, France's CAC 40 rose 0.4%, and the UK's FTSE 100 rose 0.1%.

Germany's DAX rose over 0.7%, and jumped to its all-time record high of 14,131.52 points.