European stocks rebound from 3-week low on improved sentiment

Economies.com
2021-12-21 11:50AM UTC

European stocks rose on Tuesday, within recovery from a 3-week low low, to head for the first gain in 3 days, thanks to improved market sentiment, after Moderna's statements and the British Prime Minister Boris Johnson's decision.

 

The Stoxx Europe 600 index rose 1.1% as of 11:35 GMT, after closing lower by 1.4% yesterday, and hit a 3-week low at 461.79 points.

 

The mining sector saw the largest gains in Europe today, with a rise of nearly 2.5%, as most metals and commodities rallied.

 

The American biotech frim Moderna stated that a booster shot of its Covid-19 vaccine protect from Omicron infection.

 

The European Union gave the green light to Novavax for people aged 18 or over, making it the fifth vaccine available for use.

 

The British Prime Minister Boris Johnson decided not to impose stricter social distancing measures during the Christmas period, but refused to rule out new measures if needed.

 

S&P 500 futures rose 0.75% today ahead of Wall Street's opening, after the index closed lower by 1.1% yesterday and hit a 3-week low at 4,531.10 points.

 

Back to Europe, the Euro Stoxx 50 index rose 1.1%, France's CAC 40 rose 0.9%, and Germany's DAX index rose 1.2%, while the UK's FTSE 100 rose 0.9%.

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