Sunday, 17 October 2021

European stocks rise, gold hits record awaiting US stimulus talks

File Photo

BRUSSELS: European stock markets climbed solidly Wednesday after a mixed Asian showing, with traders tracking talks on a key US stimulus package that fuelled another record-high finish on Wall Street.

Approaching midday, London’s benchmark FTSE 100 index was up 1.0 per cent, helped also by strong rebounds for the UK services sector and sales of new cars after both plummeted during the country’s lockdown.

In the eurozone, Frankfurt won 0.9 per cent and Paris climbed 0.8 per cent.

The euro was higher versus the dollar and pound, while oil prices jumped around 2.5 percent.

At the same time, long-running uncertainty about the global economic outlook caused by the coronavirus pandemic and a weak dollar helped gold to a fresh high at $2,041.92 an ounce after the haven investment on Tuesday hit above $2,000 for the first time.

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