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01 Mar 2021 | 08:06

Europe open: Shares open strongly as bond sell-off eases

(Sharecast News) - European shares opened in bullish fashion on Monday as the bond market sell off eased and investors took heart from Covid vaccine rollouts, although inflationary fears persisted. The pan-European Stoxx 600 index was up 1.54%, with all major regional bourses higher.

"Those fears of inflation have certainly not gone away but attention has shifted back, perhaps temporarily, to the immediate positive drivers which could propel a strong economic rebound," said Richard Hunter at interactive investor.

"More generally, the success so far of the vaccine rollouts and the pent-up consumer demand which has partly been due to enforced savings are preparing the ground for a spending spree later in the year."

"In the US, the increasing likelihood of the President's proposed stimulus package could initiate a strong road to recovery."

Hopes that UK Finance Minister Rishi Sunak would unveil measures to buy homes buyers boosted house builders with Persimmon, Taylor Wimpey, Barratt, Vistry and Bellway all gaining.
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