European markets close higher as coronavirus and Georgia runoff remain in focus
European stocks closed higher on Wednesday as the coronavirus pandemic and U.S. political developments remain a key focus for investors.
The pan-European Stoxx 600 provisionally closed up by around 1.6%, with banks rallying 5.7% to lead gains as most sectors and major bourses ended in positive territory.
Investors are keeping an eye on two runoff elections in Georgia that will determine control of the U.S. Senate. Republican Senators Kelly Loeffler and David Perdue are facing Democratic challengers Rev. Raphael Warnock and Jon Ossoff, respectively.
If both Democrats win, that would make a 50-50 tie in the upper chamber, with Vice President-elect Kamala Harris as the tiebreaker vote to give the party control of the Senate. NBC News now projects that Warnock has unseated Loeffler, while Ossoff leads Perdue in a race that is still too close to call.
Reference: CNBC
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