European stocks closed higher Thursday as hopes of substantial fiscal stimulus from the incoming U.S. administration and positive Covid-19 vaccine news boosted sentiment.
The pan-European Stoxx 600 ended the session up by 0.7%, with travel and leisure shares climbing 1.9% to lead gains while utilities slid 0.4%.
European markets started the trading day on a cautious note, as investors monitored the ongoing battle with a rise in coronavirus cases. Vaccination rollouts across the continent have raised hopes that an end to the pandemic is on its way, however.
More good news on the vaccine front emerged on Wednesday as early trial data published in the New England Journal of Medicine showed Johnson & Johnson’s one-shot Covid vaccine is safe and appears to generate an immune response in both young and elderly volunteers.
Reference: CNBC
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