It is anticipated that European stocks opened to the upside on Tuesday amid continued optimism about vaccines covid and improved clarity on the political situation in the US. UU. As Trump clears the way for Joe Biden.
European stocks are expected to open higher on Tuesday amid continued optimism around covid vaccines and greater clarity on the political situation in the US as Trump clears the way for Joe Biden.
Three weeks after the US elections, Joe Biden received official recognition that he did indeed win the race for the White House. Trump liked the tweet, sending the message that he has accepted the election result even though he promises to keep fighting it.
The prospect of a disorderly transfer of power has crept into the market for the past three weeks since the election; now a line can be drawn under this risk.
Vaccine optimism continues
The dominant driving force behind the market has been progressing in vaccine development with AstraZeneca announcing yesterday that under a particular dose, the vaccine is 90% effective and can be stored at room temperature, making it much easier to distribute than the Moderna and Pfizer vaccine.
Beat Germany’s GDP
Adding to the upbeat mood, Germany’s final reading for Q3 GDP printed at 8.5% QoQ ahead of the 8.2% expected and impressive recovery from the historic 9.7% contraction in the second quarter. However, after yesterday’s disappointing PMIs, which point to a double-dip recession, the GDP figures look out of date. More attention could be paid to the German IFO which will be launched shortly.
Airlines soar after quarantine cut
The lockdown restrictions in Europe are still in place, but there is talk of these flexibilities, offering support to sentiment. Aviation stocks, which have been one of the sectors most affected during the crisis, continue to show a strong recovery. News that the UK government is offering tests as a way to reduce quarantine periods could boost travel over the Christmas period. IAG operations + 4.4%