Markets

FTSE 100 Rises On EU Deal, Vaccine Hopes

(RTTNews) - U.K. stocks rose on Tuesday, with a combination of vaccine optimism and fiscal stimulus boosting sentiment.

The euro hit its strongest level since early March after the European Union (EU) struck a historic deal on a €750 billion ($857 billion) coronavirus recovery fund and the bloc's long-term budget.

On the data front, the U.K. budget deficit increased sharply in June, data from the Office for National Statistics showed.

Public sector net borrowing excluding public sector banks increased GBP 28.3 billion to GBP 35.5 billion, which was the third highest deficit in any month on records. Borrowing for May was revised down by GBP 9.8 billion to GBP 45.5 billion.

The benchmark FTSE 100 rose 39 points, or 0.63 percent, to 6,300 after rising half a percent on Monday.

GVC Holdings slumped 9 percent on news that HMRC had ordered the firm to hand over info relating to its former Turkish facing gambling business.

Telecom firm TalkTalk Telecom slid half a percent after its fiscal first-quarter revenue fell.

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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