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(Sharecast News) - Stocks are holding higher on the back of news of Paris and Berlin's fiscal stimulus plans and US health officials' announcement that states should be ready to distribute a Covid-19 vaccine from 1 November.
"News that France is throwing an additional €100 billion at its economy, and comments about the strength of the euro from ECB policymakers, have combined to provide fresh impetus to the rally in European stocks this morning," said IG's Chris Beauchamp.
"Equities continue to exhibit notable strength as they rise heedless of the ongoing tick higher in virus cases and signs that the economic rebound is slowing."
But for David Madden at CMC Markets UK, the main driver behind the gains was the announcement overnight from the US Centers for Disease Control that health officials should make preparations to begin distributing a Covid-19 vaccine from the start of November.
As of 1215 BST, the benchmark Stoxx 600 was up 0.97% at 374.89, alongside an advance of 1.24% for the German Dax to 13,408.06 while the FTSE Mibtel was adding 0.92% to 20,041.60.
At the pan-European level, Travel&Leisure names were putting in the biggest gain, rising by 3.23%, followed by advances for Autos&Parts (2.65%), Industrials (1.79%) and Banks (1.59%).
Euro/dollar was dipping alongside, by 0.32% to 1.1812, after the Financial Times reported that European Central Bank officials were concerned that euro strength would weigh on Eurozone exports and prices.
Meanwhile, French authorities laid out plans for a €100bn stimulus programme for the euro area's second-largest economy.
And to the East, German finance minister, Olaf Scholz, again made the case for fiscal stimulus in 2021, albeit adding that the country's finances should return to normal in 2022.
In remarks to ARD television, the head of Germany's CDU/CSU, Ralph Brinkhaus, appeared to endorse those plans.
The news on the fiscal front came as Eurostat reported a slowdown in euro area retail sales in July to a year-on-year pace of 0.4%, down from 1.2% in the month before (consensus: 3.7%).
IHS Markit's euro area services sector Purchasing Managers' Index for August was revised up from a preliminary reading of 50.1 to 50.5, although even that remained far beneath July's reading of 54.7.
21 Nov 2023 15:44
UK earnings, trading statements calendar - next 7 days
| Wednesday 22 November | |
| Bodycote PLC | Trading Statement |
| Breedon Group PLC | Trading Statement |
| Britvic PLC | Full Year Results |
| Coats Group PLC | Trading Statement |
| Grainger PLC | Full Year Results |
| Helical PLC | Half Year Results |
| HICL Infrastructure PLC | Half Year Results |
| Johnson Matthey PLC | Half Year Results |
| Kingfisher PLC | Q3 Results |
| Molten Ventures PLC | Half Year Results |
| NextEnergy Solar Fund Ltd | Half Year Results |
| Redcentric PLC | Half Year Results |
| Rotork PLC | Trading Statement |
| Sage Group PLC | Full Year Results |
| Severn Trent PLC | Half Year Results |
| Shearwater Group PLC | Half Year Results |
| Speedy Hire PLC | Half Year Results |
| Ten Lifestyle Group PLC | Full Year Results |
| Tremor International Ltd | Q3 Results |
| TT Electronics PLC | Trading Statement |
| Victorian Plumbing Group PLC | Full Year Results |
| Thursday 23 November | |
| Alpha Financial Markets Consulting PLC | Half Year Results |
| First Property Group PLC | Half Year Results |
| FirstGroup PLC | Half Year Results |
| Intertek Group PLC | Trading Statement |
| Jet2 PLC | Half Year Results |
| LondonMetric Property PLC | Half Year Results |
| Mitie Group PLC | Half Year Results |
| Motorpoint Group PLC | Half Year Results |
| NewRiver REIT PLC | Half Year Results |
| PayPoint PLC | Half Year Results |
| Princess Private Equity Holding Ltd | Q3 Results |
| Virgin Money UK PLC | Full Year Results |
| Volex PLC | Half Year Results |
| XPS Pensions Group PLC | Half Year Results |
| Friday 24 November | |
| no events scheduled | |
| Monday 27 November | |
| Celebrus Technologies PLC | Half Year Results |
| DSW Capital PLC | Half Year Results |
| JLEN Environmental Assets Group Ltd | Half Year Results |
| Northern Bear PLC | Half Year Results |
| Rightmove PLC | Trading Statement |
| Serinus Energy PLC | Q3 Results |
| SysGroup PLC | Half Year Results |
| Tuesday 28 November | |
| Altitude Group PLC | Half Year Results |
| Augmentum Fintech | Half Year Results |
| Brickability Group PLC | Half Year Results |
| DP Eurasia NV | Trading Statement |
| easyJet PLC | Full Year Results |
| Focusrite PLC | Full Year Results |
| Greencore Group PLC | Full Year Results |
| IG Design Group PLC | Half Year Results |
| Kinovo PLC | Half Year Results |
| Loungers PLC | Half Year Results |
| Mercia Asset Management PLC | Half Year Results |
| Pets At Home Group PLC | Half Year Results |
| Renew Holdings PLC | Full Year Results |
| Safestore Holdings PLC | Trading Statement |
| Supreme PLC | Half Year Results |
| Topps Tiles PLC | Full Year Results |
| Treatt PLC | Full Year Results |
| Vp PLC | Half Year Results |
| Watkin Jones PLC | Half Year Results |
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