Europe rises, German sentiment jumps
March 16, 2021SharePrint
European bourses are out of the blocks on the front foot after an upbeat session on Wall Street, which saw the Dow and the S&P500 hit fresh all-time highs. Encouraging earnings from the likes of Volkswagen and Zalando are underpinning the mood as is the better-than-expected ZEW sentiment data for the region, providing a good distraction from the one-step-forward, two-steps-back vaccine debacle in Europe.
The record high reached in the US overnight reflects a strong positive mood in the market, which has carried over into the European session. Investors are betting on a dramatic US economic recovery supported by a huge US fiscal stimulus package and a rapid vaccine rollout programme.
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