European Stocks Rise on Hopes of a Trade Deal Linked to Brexit

European stocks rallied on Wednesday, December 23, as investors encouraged a report indicating the possibility of signing a trade deal later in the day for the post-Brexit phase, amid concerns about the long-awaited passage of a coronavirus-related aid package in the United States.

The European Stoxx600 index rose 0.4% after political writer Robert Beston said it is possible to conclude a trade deal linked to the Brexit from the European Union between Britain and the European Union today after progress in talks on fishing rights.

But the FTSE100 index in London fell with the increase of the pound on the back of this news and its impact on the stocks of global focus companies listed on the index.

Daimler was the biggest supporter of the Stoxx600 index, as it rose 2.7% after the economic newspaper Handelsblatt said that the German luxury carmaker was preparing to list its trucking sector on the stock exchange.