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Brexit trade deal momentum fades


#European stocks traded higher on #Wednesday amid more positive vaccine news in the region.

The pan-European #Stoxx 600 index was trading up 0.2% by mid-morning. #London’s FTSE 100 index was up 0.25% after the coronavirus vaccine developed by the #University of #Oxford and #AstraZeneca was authorized for emergency use in the U.K.

The announcement marks another step in the global battle against the pandemic and will allow the U.K. to greatly expand its #Covid-19 immunization program started in #December. #So far, the #Pfizer-BioNTech vaccine has been given to 600,000 people in the U.K., according to government statistics. #Shares of #AstraZeneca were up 0.7% #Wednesday.

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#European markets are bucking a lackluster trend seen in their global counterparts #Wednesday; #Stocks in #Asia-Pacific were mixed in trade overnight after major indexes on #Wall #Street snapped their multi-day winning streaks on #Tuesday. #Meanwhile, the dollar weakened against other major currencies.

#China’s 2019 GDP growth was revised downward to 6.0%, according to a statement released #Wednesday by the country’s #National #Bureau of #Statistics. #That compared against a pre-revision 2019 growth rate of 6.1%.

#Meanwhile, U.S. stock index futures were little changed in overnight trading on #Tuesday as the market tried to reclaim record highs. #Contracts tied to the #Dow #Jones #Industrial #Average gained 36 points. S&P 500 futures gained 0.12%, while #Nasdaq 100 futures were flat.

The move came after the major averages closed lower on #Tuesday, giving up early gains that pushed stocks to record highs at the opening bell. #Lawmakers in #Washington continue to disagree over direct payments to #Americans that are part of an economic stimulus package amid the ongoing coronavirus pandemic.

#Senate #Majority #Leader #Mitch #McConnell blocked #Senate #Minority #Leader #Chuck #Schumer’s effort to fast-track the bill, passed by the #House late #Monday, that would increase checks to $2,000 from $600. #Stimulus payments could go out as early as #Tuesday evening, #Treasury #Secretary #Steven #Mnuchin said.

#President #Donald #Trump has supported higher payments, and on #Tuesday said in a tweet that the move should be approved “ASAP. $600 IS NOT ENOUGH!”

#Lawmakers in the U.K. are to vote #Wednesday on whether to approve the post-Brexit trade deal reached by negotiators on #Christmas #Eve. #Prime #Minister #Boris #Johnson called on parliament to back the deal.

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There are no major earnings or data releases #Wednesday.

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



[ source link ]
https://www.cnbc.com/2020/12/30/european-markets-head-for-flat-open-as-momentu.html

##Brexit #trade #deal #momentum #fades

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