European stock markets opened up slightly following the rise in Asian stock markets. The United States was market-free on Monday. Based on market futures, a rise is expected in New York.
In the market, investors are in a positive mood as Korona vaccinations are gradually progressing around the world. Based on the experience of the most advanced countries, the vaccine appears to slow down the progression of the disease. The market has a positive attitude towards the economic outlook.
In Britain, a gradual opening of the economy is planned again, and pressure for relief is also growing in Germany.
In the morning market, the rise has been driven by value stocks and cyclical sectors. Mining, the energy sector and tourism stocks have been on the rise. The energy sector is being driven by rising oil prices to 13-month highs. Bank shares are also clearly on the rise.
The share price of mining company Glencore rose 3.5 percent. The company had managed to generate income from oil price movements through derivatives and copper had also performed well.
The broad Stoxx 600 index was up 0.2 percent after an hour of trading, the highest level in nearly a year. At the same time, warnings about high price levels have increased. The Stoxx 600 has risen before this day for 11 consecutive days throughout February.
“Prices have not been as high relative to results or revenue since the techno bubble,” Swisquate senior analyst Ipek Ozkardeskaya said to Bloomberg.
Source: Arvopaperi by www.arvopaperi.fi.
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