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European shares kick off 2021 with rally on Brexit and vaccine optimism

Published 01/04/2021, 04:27 PM
Updated 01/04/2021, 04:30 PM
© Reuters.
UK100
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FCHI
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DE40
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BARC
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LLOY
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NWG
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ENT
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STOXX
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SXPP
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SXTP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Jan 4 (Reuters) - European shares rallied in the first
trading session of the year as a landmark Brexit trade deal and
coronavirus vaccine drives across the continent bolstered
expectations of a strong economic rebound.
The pan-regional STOXX 600 index .STOXX gained 1.2% to
touch fresh February 2020 highs, with mining .SXPP and travel
& leisure .SXTP stocks among the top gainers.
London's blue-chip index .FTSE rose 1.6% in its first day
of trading with Britain outside the European Union's orbit.
While the hard-fought trade deal agreed late December set
rules for industries such as fishing and agriculture, it did not
cover Britain's much larger finance sector, meaning automatic
access to the EU's financial markets came to an end on Dec. 31.
Shares in UK banks such as Lloyds Banking Group LLOY.L ,
Barclays BARC.L and Natwest NWG.L traded marginally lower.
Germany's DAX .GDAXI gained 1.1% to trade below all-time
highs, while France's CAC 40 .FCHI was up 1.3%.
In company news, shares in Ladbrokes owner Entain Plc
ENT.L jumped 26.2% despite saying an $11 billion bid proposal
from U.S. casino operator MGM Resorts significantly undervalued
its business.

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