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European stocks were broadly higher on Monday amid expectations that positive economic data from the United States and China coupled with the U.S. Senate’s passage of a $1.9 trillion stimulus bill may bode well for a stronger economic recovery.<\/p>\n
The pan European Stoxx 600 rose half a percent to 410.55 after declining 0.8 percent on Friday. <\/p>\n
The German DAX gained 0.7 percent and France’s CAC 40 index added 0.4 percent while the U.K.’s FTSE 100 was little changed on pound strength. <\/p>\n
The British pound ticked higher against a range of other currencies on optimism over the U.K.’s vaccine rollout and the easing of a stringent lockdown, with children returning to school in England for the first time since January.<\/p>\n
A measure of U.K. business<\/span> confidence hit a 12-month high, adding to optimism over economic recovery.<\/p>\n Elsewhere, Sentix’s index for the euro zone rose to 5.0 from -0.2 in February, the highest since February 2020 driven by an improved view of the current situation. <\/p>\n Investors shrugged off data from Destatis showing that German industrial production decreased unexpectedly in January.<\/p>\n Industrial production fell 2.5 percent month-on-month in January, confounding expectations for an increase of 0.2 percent. Production had advanced 1.9 percent in December.<\/p>\n BP Plc fell 0.8 percent and Royal Dutch Shell traded flat despite oil prices hitting new records boosted by reports of attacks on Saudi Arabian facilities.<\/p>\n Travel-related stocks were gaining ground, with tour operator company Cruise operator Carnival climbing 3.6 percent and airline Lufthansa adding 3.2 percent. <\/p>\n Education group Pearson rallied 3 percent. The company said it expects revenue growth in 2021, with adjusted operating profit expected to be in line with current market forecasts.<\/p>\n Aircraft parts supplier Senior Plc advanced 3.4 percent despite warning that this year would be as challenging as 2020.<\/p>\n Domino’s Pizza Group rose over 1 percent after it agreed to sell its entire shareholding in PPS Foods AB (Domino’s Sweden) to Eyja fj\u00e1rfestingaf\u00e9lag III EHF.<\/p>\n Valneva SE shares rallied 2.2 percent. The specialty vaccine company and Pfizer Inc. have initiated Phase 2 VLA15-221 study for Lyme disease vaccine candidate. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n