People arrive at Seoul’s train station on November 9, 2020. President-elect Joe Biden watches a television news program on an American presidential election report showing his image.
Jung Yeon-Jei / Agency France-Press / Getty Images
European stocks and U.S. Stock futures rallied on Monday, with former Vice President B Biden announcing victory, ending days of uncertainty.
Stocks Europe 600 SXXP, up 7% last week
Increased 1.3%.
German DAX DAX,
French CAC 40 PX1,
And UK FTSE 100 UKX,
All advanced.
Dow Jones Industrial Futures on the Industrial Average YM100,
Asian markets also rose by 342 points.
According to tall leases from the Associated Press and other major media outlets, Byden had the first opportunity in the market to respond to the news that he had topped the list of 270 electoral college leagues. President Donald Trump has not acknowledged this, but analysts believe it is likely to succeed. The Biden administration is likely to be with a Republican-controlled Senate, unless the Democrats win a two-run election in the state of Georgia.
“A week ago, the prospect of a U.S. undecided election was seen with pride, but it turned out that the gridlock in Washington is exactly what investors want,” said Ill Williams, a strategist at Peel Hunt.
Analysts said Biden’s victory could also help make the EU-UK trade deal more likely. “Ultimately, Biden’s strong Irish links mean that any potential issues arising out of Brexit will significantly lower the prospects for a US-UK free trade agreement,” said BNP Paribas economist Paul Hollingsworth.
Election news published the latest reports about the coronavirus. The Covid-19 project said the number of new-case cases in the U.S. is the highest ever for Sunday, as Bank of France said current lockdown activity would drop to 12% below normal.
Goldman Sachs economists cut their estimates of global growth to%% next year, down 0.5%. “The reason is the sharp rise in infections in recent weeks, which has caused us to have a short-term, economic impact, especially in Europe,” said Jan Hatzius and Dan Struiwen in a note to consumers.
Of the stocks on the move, UK builder Taylor Wimpe TW,
This year’s results rose 9%, saying expectations would be at the top end.
.
