CAC 40 Rallies Led By Automakers
French stocks rallied on Monday after the U.K.'s separation from the EU was completed on New Year's Eve.
Britain formally left the single market and customs union of the EU on 1 January after the two sides agreed upon a post-Brexit deal on 24 December.
Meanwhile, investors remain hopeful that the rollout of vaccines would ultimately lift a global economy decimated by the Covid-19 pandemic. The U.K. today began rolling out the Oxford University vaccine developed by AstraZeneca as protection against Covid-19.
The benchmark CAC 40 was up 79 points, or 1.4 percent, at 5,630, with travel- related stocks leading the surge. Air France KLM shares rose nearly 2 percent.
Banks were modestly higher, while automaker Renault advanced 1.7 percent and Peugeot jumped 2.4 percent.
Market Analysis
Reprinted from RTTNews,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.