Markets

European Markets Surge Monday, Halt Losing Streak

(RTTNews) - The major European stock markets rose sharply on Monday, riding a wave of optimism on hopes for a coronavirus treatment in the face of a resurgence of virus cases around the world.

Investor sentiment was boosted after U.S. regulators authorized the use of blood plasma from recovered patients as a treatment option for COVID-19, prompting the markets to halt a two-day slide.

Germany's DAX surged 301.74 points or 2.36 percent to 13,066.54, while the FTSE on London jumped 102.84 points or 1.71 percent to 6,104.73 and the CAC 40 in France spiked 111.56 points or 2.28 percent to 5,007.89.

In Germany, Deutsche Bank surged 4.43 percent, while Daimler soared 4.02 percent, Heidelberg Cement spiked 3.93 percent, Wirecard tumbled 3.70 percent, Covestro jumped 3.21 percent, Siemens climbed 2.88 percent, Deutsche Borse advanced 2.43 percent, Deutsche Telekom added 2.19 percent, thyssenkrupp gained 1.60 percent, Deutsche Lufthansa rose 1.44 percent and Deutsche Post was up 1.28 percent.

In London, Royal Dutch Shell accelerated 4.00 percent, while British American Tobacco soared 3.72 percent, Vodafone spiked 2.36 percent, Associated British Foods jumped 2.15 percent, St. James Place climbed 1.39 percent, Rolls-Royce advanced 1.24 percent, Standard Life Aberdeen added 0.74 percent and Scottish Mortgage Investment gained 0.59 percent.

In France, Societe Generale jumped 4.19 percent, while Peugeot surged 3.94 percent, Veolia Environment accelerated 3.56 percent, Credit Agricole spiked 2.90 percent, BNP Paribas climbed 2.62 percent, Carrefour advanced 1.51 percent, Sanofi gained 1.26 percent, Vivendi rose 1.00 percent and Accor fell 0.49 percent.

On the corporate front, Moderna, Inc. (MRNA) said it has concluded advanced exploratory talks with the European Commission to supply 80 million doses of mRNA-1273, the company's COVID-19 vaccine candidate. The potential purchase agreement provides for an option for Member States to purchase an additional 80 million doses for a total of up to 160 million doses.

British retailer Tesco plc (TSCO.L, TSCDY.PK) will create 16,000 new permanent roles to support the exceptional growth in its online business, the company said on Monday. These jobs are in addition to the 4,000 permanent jobs already created since the start of the COVID-19 pandemic.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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