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Brexit trade momentum weakens



European stocks rose on Wednesday due to more positive vaccine news in the region.

As of mid-morning, the pan-European Stoxx 600 index rose 0.2%. After the coronavirus vaccine developed by Oxford University and AstraZeneca was authorized for emergency use in the UK, London’s FTSE 100 index rose by 0.25%.

The announcement marks another step in the global fight against the pandemic and will allow the UK to greatly expand its Covid-1

9 immunization program starting in December. According to government statistics, Pfizer-BioNTech vaccine has been provided to 600,000 people in the UK so far. AstraZeneca shares rose 0.7% on Wednesday.

The European market is reversing the downturn of its global counterparts on Wednesday. After the major stock indexes on Wall Street rose for several consecutive days last night, the Asia-Pacific stock markets were mixed last night. At the same time, the U.S. dollar weakened against other major currencies.

According to a statement issued by the National Bureau of Statistics on Wednesday, China’s GDP growth in 2019 was revised down to 6.0%. In comparison, the revised 2019 growth rate was 6.1%.

At the same time, there was little change in US stock index futures in overnight trading on Tuesday as the market tried to restore record highs. Contracts linked to the Dow Jones Industrial Average rose 36 points. S&P 500 futures rose 0.12%, while Nasdaq 100 futures were flat.

The move was abandoned after the major average stocks closed lower on Tuesday, and the early gains caused the stock to hit a record high at the opening. During the ongoing coronavirus pandemic, Washington lawmakers still disagree with direct payments to Americans as part of the economic stimulus plan.

Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer’s efforts to accelerate the implementation of the bill passed by the House of Representatives on Monday, which would increase the check from $600 to $2,000 Dollar. Treasury Secretary Steven Mnuchin said that stimulus payments could be made as early as Tuesday night.

President Donald Trump supports the increase in payments and said in a tweet on Tuesday that the move should be approved as soon as possible. “$600 is not enough!”

British lawmakers will vote on Wednesday whether to approve the post-Brexit trade agreement reached by negotiators on Christmas Eve. Prime Minister Boris Johnson called on Parliament to support the deal.

There were no major earnings or data releases on Wednesday.

-CNBC’s Eustance Huang and Pippa Stevens contributed to this market report.


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