Sat, 05 Dec 2020

European stocks waver; Paris hit by glitch

19 Oct 2020, 22:12 GMT+10

European stock markets wavered Monday amid a technical glitch in Paris, but investor sentiment remained buoyed by fresh optimism over a new US stimulus package, dealers said.

London fell 0.1% as sterling rose on receding fears of a no-deal Brexit. The stronger pound weighs on the share prices of multinationals earning in dollars.

At the weekend House Speaker Nancy Pelosi set a Tuesday deadline for a pact to be hammered out, while Donald Trump urged his Republican Party to offer more than the $1.8 trillion they have put forward, adding that he would be willing to go higher than the Democrats' $2.2 trillion proposal.

In London, traders remained on edge over the possibility that Britain and the European Union will not reach a post-Brexit trade agreement after Prime Minister Boris Johnson last week said he was ready to walk away without one.

The 4.9% rate was short of the 5.2% tipped by analysts in an AFP poll, though it was a big improvement on the previous quarter.

Source: News24

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