European stock markets climb at open

November 16, 2020: European stock markets advanced at the open on Monday following earlier Asian gains, with London's benchmark FTSE 100 index up 0.7 percent at 6,361.91 points.

In the eurozone, Frankfurt's DAX 30 rose 0.8 percent to 13,182.70 points and the Paris CAC 40 rebounded 1.1 percent to 5,440.41.

"European bourses head out of the blocks on the front foot as vaccine optimism and encouraging data from China and Japan overshadow concerns over rising Covid-19 cases," said City Index analyst Fiona Cincotta.

Optimism for a coronavirus vaccine also helped push Asian markets higher Monday while traders were cheered by a pledge from President-elect Joe Biden's team that they were not planning an economically damaging nationwide lockdown despite surging cases.

Tokyo led the gains, jumping more than two percent, helped by news that the world's number three economy had surged out of recession in the third quarter, expanding a forecast-beating five percent thanks to a pick-up in domestic demand and exports.

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