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European shares supported by gains in retail, oil stocks

Published 11/20/2020, 04:31 PM
Updated 11/20/2020, 04:40 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 20 (Reuters) - European stocks edged higher on Friday as
gains in retail and oil shares offset worries about U.S.
politics and an impasse over fresh stimulus measures to support
a pandemic-stricken global economy.
The pan-European STOXX 600 index .STOXX rose 0.2% by 0815
GMT, on track for marginal weekly gains after signs of progress
on COVID-19 vaccine pushed the index to February highs earlier
this week.
Global mood remained subdued after U.S. Treasury Secretary
Steven Mnuchin said key pandemic lending programs at the Federal
Reserve would expire on Dec. 31, putting the outgoing Trump
administration at odds with the central bank. UK's FTSE 100 .FTSE found some support as retail sales
bounced in October and British health minister said there were
encouraging signs that virus cases were starting to flatten.
The retail index .SXRP rose 0.8% to lead sectoral gains,
followed by oil and gas .SXEP as well as travel and leisure
.SXTP stocks.
Italy's BPER Banca EMII.MI rose 3.1% after the top
investor in the bank threw its weight behind the idea of a
merger with rival Banco BPM BAMI.MI .

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