European stock markets opened on Monday, supported by positive US sentiment, as US aid bill Covid is expected to be approved by the House of Representatives later this week.
The pan-European Stoxx 600 rose 0.6% at the start of trading, with banks adding 1.4% to drive gains as almost all major sectors and stock markets advanced. Utilities fell 0.6% below.
Earnings for European markets come as Dow futures rose on Sunday night, as a massive package of US stimulus headed for the final pass this week.
Futures on major US indices gave up overnight gains to turn negative Monday morning as further bond yields continued to raise fears that central banks will seek to tighten policy sooner than expected. The US Treasury’s 10-year benchmark yield exceeded 1.59% months earlier.
The previous move in the future came after the Senate approved a $ 1.9 trillion economic aid and stimulus bill on Saturday, paving the way for extended unemployment benefits, another round of stimulus checks and aid for governments. state and local.
The Democrat-controlled house will pass the bill later this week. President Joe Biden is expected to sign the law before unemployment benefits expire on March 14.
– CNBC’s Jesse Pound and Saheli Roy Choudhury contributed to this market report.
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