“European stock market opened solidly higher on Monday with FTSE 100 shrugging off pressure from a stronger pound, rising to its highest level in two and a half-week” – as reported by Yahoo Finance. We find that London’s benchmark index rose 0.91% post the opening bell, DAX rose 0.4% and CAC climbed 0.53%, resulting in hopes of fast economic recovery.
According to Yahoo Finance, the mining companies and energy producers are currently the lead in London, followed by travel and hospitality stocks. “Brighter sentiment has, for the moment, reached UK shores,” says Richard Hunter at Interactive Investor. He further adds that “The government appears on track to meet its vaccination milestone, which is hoped to be a precursor of the lifting of restrictions and therefore the ability of the economy to begin growth under its own stream. The initially positive reaction to the news leaves the FTSE 100 ahead by 2.9% in the year to date.”