European Stocks Extend Gains, Exchange Supported by Brexit Agreement

European stocks extended their year-end gains on Tuesday, December 29, as global growth prospects were boosted by a post-Brexit trade deal and hopes of an increase in the US stimulus package and the race among the EU countries for COVID-19 vaccine.

The Euro Stoxx 600 index rose by 0.8% at 08:28 GMT, rising for the fifth consecutive session and reaching a new ten-month high.

British stocks rose after a long weekend, as the blue-chip British index FTSE 100 jumped 1.6% after the two sides signed a post-Brexit trade deal on Thursday.

The German DAX index rose by 0.6% and continued its record rise, as global markets were underpinned by hopes of increasing the US covid aid package.