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European stocks recovered on Friday despite an alarming rise in cases of Covid-19 across the region, driven by optimism that US lawmakers could reach agreement on fiscal stimulus.
The UK’s FTSE 100 rose 0.6%, Germany’s DAX rose 0.5%, and the Euro Stoxx 50 added 0.7% in early trading.
UK Prime Minister Boris Johnson is expected to provide an update later Friday on Brexit negotiations. The British Foreign Secretary has signaled that the country is close to a deal with the EU.
“The increasingly higher risks of COVID-19, US fiscal stimulus impasse, and the impending US elections, saw a risk-aversion theme sweep currency markets overnight,” a senior market analyst at OANDA said.

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European stocks rebounded on Friday, driven by investor optimism that the US economy could soon see another wave of economic lifelines, which offset a steep rise in cases of  COVID-19 across the region.

London’s  benchmark FTSE 100 rose 0.6% ahead of an expected update from Prime Minister Boris Johnson’s government that Brexit negotiations will extend beyond Thursday’s “deadline.”

British Foreign Secretary Dominic Raab said on Friday that the European Union and the UK “are close” on a Brexit deal.

The Euro Stoxx 50 …read more


Source:: Businessinsider – Finance

      

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