European Stocks Rise For a Fourth Session on Optimism

European shares remained at their highest level in ten months Thursday, December 17th, as hopes for more stimulus in the United States and possible distribution of COVID-19 vaccines in Europe boosted expectations for a global economic recovery.

The German DAX index rose 1.1% to reach its highest level since February, while the STOXX600 index of European stocks rose 0.6%, both of whom continued to make gains for the fourth consecutive session.

Germany and France said they were ready to start immunizing their citizens with a vaccine produced by Pfizer and BioNTech in the last week of December, once approved by the European Medicines Agency.

Britain’s FTSE100 index added 0.4%, as all eyes are focused on the Bank of England’s meeting to be held later today. The bank is expected to keep its policy unchanged in anticipation of the fate of a trade agreement linked to Britain’s exit from the European Union.