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Bloomberg
European stocks rise after trade and transport links between the UK and its neighbours looked set to resume and Brexit negotiators made a final push for a deal.
The Stoxx 600 Index rises as France agreed to end a suspension that crippled Britain’s busiest port after a new virus variant sparked more severe lockdowns. The pound advanced as the EU’s chief Brexit negotiator said the two sides were ready to make “a final push.†Most Asian stocks climbed.
US equity futures edged higher with stocks, reversing a decline of as much as 0.7% after President Donald Trump attacked the coronavirus relief bill. The president is demanding that lawmakers increase the stimulus checks due to go out to most Americans to $2,000 from $600 just a day after Congress passed the $900 billion bipartisan package. The dollar slipped and Treasury yields were steady.
The president’s comments have the potential to cast fresh jitters on markets as investors weigh how long it will take for the spending package to become law and for the money to be distributed to Americans. House Speaker Nancy Pelosi seized on Trump’s call for larger individual stimulus checks and said the House would try to pass this additional measure during a pro forma session on Thursday.
“For now, markets appear to be holding off pressing the sell button until the situation clarifies,†said Jeffrey Halley, senior market analyst for Asia Pacific at Oanda.
Elsewhere, gold climbed while crude oil retreated.
Futures on the S&P 500 Index climbed 0.2% as of 8:18 am London time and the Stoxx Europe 600 Index increased 0.5%. While the MSCI Asia Pacific Index advanced 0.7%, the MSCI Emerging Market Index gained 0.6%.
The Bloomberg Dollar Spot Index falls 0.3% and the euro increased 0.1% to $1.2179.
The British pound jumped 0.4% to $1.3419 and the onshore yuan strengthened 0.1% to 6.537 per dollar. The Japanese yen strengthened 0.2% to 103.46 per dollar.
The yield on 10-year Treasuries decreased less than one basis point to 0.91% and the yield on two-year Treasuries gained less than one basis point to 0.12%.
While Germany’s 10-year yield sinks one basis point to -0.60%, Britain’s 10-year yield declined less than one basis point to 0.179%. Japan’s 10-year yield advanced less than one basis point to 0.012%.
West Texas Intermediate crude declined 0.7% to $46.70 a barrel and Brent crude dipped 0.6% to $49.77 a barrel. Gold strengthened 0.4% to $1,868.85 an ounce.