Europe Stocks Higher On Recovery Deal

European stock markets are set to open higher on Tuesday, supported headlines that the EU leaders have agreed on a massive stimulus plan to revive the economies damaged by the pandemic.

DAX futures contract traded 1% higher, FTSE 100 futures contract in the rose 0.7%, while CAC 40 futures rose 0.8%.

After about five days of negotiations, EU leaders reached a compromise by cutting the package plan from 750 billion euros to 390 and the rest in low-interest loans.

“This is an important signal beyond Europe’s borders that the EU, even with all the (EU member states’) varying backgrounds, is able to take action,” German Chancellor Angela Merkel told reporters during a joint news conference with French President Emmanuel Macron.