US President Donald Trump signs executive orders to boost economic relief from coronavirus, during a news conference in Bedminster, New Jersey, on August 8, 2020.
jim watson / Agence France-Presse / Getty Images
European stocks rose on Monday, fueled by a move by US President Donald Trump to extend unilateral unemployment benefits in the world’s top economy.
Following a 2% gain last week, the Stoxx Europe 600 SXXP arrived,
rose 0.5%.
Oil giants BP BP,
Royal Dutch Shell RDSA,
and Total FP,
were among the early winners.
The UK FTSE 100, UKX,
French CAC 40 PX1,
and German DAX DAX,
advanced.
FS-futures futures ES00,
I rose.
The move came as President Donald Trump signed four executive orders over the weekend, including one extending federal unemployment benefits at a rate of $ 400 a week from the past $ 600 a week and another that the tax burden temporarily cuts. It is not clear whether the executive orders will meet legal challenges and the funding of benefits, achieved by tapping into an emergency program, is set at five weeks.
Risk takers are signaling a sharp drop in Congress’ prime cliff-edge; however, if U.S. lawmakers succumb, expectations of economic growth could end by the end of the year, ”said Stephen Innes, Strategic Strategy Headquarter at AxiCorp.
The latest report on U.S. job opening comes at 10 a.m. Eastern.
Carnival CCL,
shares increased 5% when its Aida division extended its break from its cruise season until September 30, except for early September flights from Kiel and Hamburg.
Alstom ALO,
shares fell 1.5% as the company said it still intends to buy Bombardier’s track unit, despite what it calls “unexpected and negative developments.” Alstom suggested it would seek to renegotiate the roughly € 6 billion deal, saying it “will take into account the impact of these operating and financial developments in future talks with Bombardier Inc., and will update the market as necessary.”
.
