Share Prices & Company Research

Market News

26 Mar 2021 | 17:42

Europe close: Stocks head into weekend with gains on recovery hopes

(Sharecast News) - European shares held onto their moderate gains on Friday, driven by hopes of a strong US recovery from the coronavirus pandemic and positive UK retail sales data. The pan-European Stoxx 600 index was up 0.91% to 426.93, alongside a 0.87% advance to 14,748.94 for the German Dax while Spain's Ibex 35 bounced back 1.05% to reach 8,498.2.

"Global markets are finishing the week on a stronger note overall, having started to rebound yesterday on Wall Street, a move that carried over into the Asian session and then on to Europe," said IG chief market analyst Chris Beauchamp.

"Wall Street has continued the run, although the looming end of the month and quarter will mean that is hard to derive a firm conclusion on the direction of risk appetite."

Stoking investor optimism was the Biden administration's new goal, announced the day before, of administering 200.0m doses in its first 100 days in office, a target that seemed readily achievable, and hopes that a jobs rebound was already under way.

In equity news, shares in UK insurer Aviva rose after the company sold its Polish unit to Allianz for €2.4bn. Allianz shares were also higher.

Smiths Group gained after it increased its interim dividend and said it was confident about meeting expectations for annual results as profit fell in the first half.

London-listed copper miner Kaz Minerals rose 2.9% after it received a final bid worth £4.02bn from Nova Resources.

Miners rose on higher metals prices while oil giants Shell and BP were on the rise as oil prices pushed up on concerns that a ship blocking the Suez Canal could squeeze crude supplies.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.