European shares rebounded this morning from losses in the previous session following reports of progress in developing a Covid-19 vaccine, but a mixed bag of quarterly earnings reports capped gains.
London's FTSE index moved 41 points (0.7%) higher to stand at 6,221 by 10am, while the Paris CAC was up 54 points (1%) to trade at 5,061 and the Frankfurt DAX climbed 110 points (0.8%) to reach 12,807.
Dublin's ISEQ index was also higher this morning, adding 85 points (1.4%) to trade at 6,175. Shares in Ryanair rose 4.3% to €11.24, while CRH gained 1.7% to stand at €33.03. Shares in Dalata Hotel Group gained 1.6% to €2.80 while Datalex was up 8.4% to 24 cent after yesterday's 75% plunge as it restarting trading in Dublin.
Earlier in Asian trade, Tokyo's Nikkei index rose 358 points (1.6%) to close at 22,945 as traders were cautiously optimistic about an economic recovery and cheered reported advances in research on coronavirus treatments. The Hang Seng index in Hong Kong inched three points (0.01%) higher to finish at 24,481 with hopes for a vaccine playing against a spike in infections in the city and Donald Trump's decision to remove its special trading status.
Wall Street stocks were also back in rally mode last night, shrugging off mixed results from large banks and gaining ground on hopes for more stimulus spending from Washington. The gains came as media reports said leading Republicans in the White House and on Capitol Hill were revising their stance on stimulus measures, including their prior opposition to extending supplemental unemployment benefits.
The Dow Jones jumped 2.1% to close at 26,642, while the broad-based S&P 500 gained 1.3% to finish at 3,197 and the tech-rich Nasdaq Composite index advanced 0.9% to end at 10,488.