European Stock Markets Seen Mostly Higher As Covid Vaccine Rollouts Underpin Recovery Hopes

On Friday european stocks are heading for a modestly higher open as investors look to vaccine rollouts for hopes of normalization following the Covid-19 pandemic. Britain’s FTSE 100 is seen inching two points lower to 6,502, Germany’s DAX is expected to gain around 27 points to 14,087.

France’s CAC 40 is set to climb around 23 points to 5,632 and Italy’s FTSE MIB is seen around 168 points higher at 23,069, according to IG data. European markets are set for a positive handover from Asia-Pacific. Shares in Asia broadly rose during Friday’s trade, taking their lead from Wall Street where the S&P 500 notched a record closing high on Thursday, as major U.S. indexes look to close out their strongest week since November.

Futures stateside were flat in the early hours of Friday as investors await January’s jobs report from the Labor Department, due at 8:30 a.m. ET. Johnson & Johnson announced Thursday that it had requested authorization for emergency use of its single-dose Covid-19 vaccine from the U.S. Food and Drug Administration (FDA), and will apply to the European authorities within the next few weeks.

The EU’s drug regulator said Thursday that it was assessing data on therapeutic antibody treatments for some outpatients from U.S. drugmakers Regeneron and Eli Lilly. In corporate news, concerns are growing about a shortage of semiconductors for the automotive industry, after Ford and Stellantis announced production cuts due to the issue, while German supplier Robert Bosch and chipmaker Infineon issued warnings.

European Stock Markets Seen Mostly Higher As Covid Vaccine Rollouts Underpin Recovery Hopes via @MasterMindUpdate
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