European stocks rose on stimulus hopes, China data By Reuters

© Reuters.

(Reuters) – European stocks rose for a third straight session on Thursday as hopes for big stimulus under incoming US President Joe Biden and upbeat data from Chinese exports boosted sentiment. The pan-European index was up 0.3% at 0812 GMT, while the index was up 0.3%. London gained 0.1%. Global markets spread their gains after CNN reported that Biden could spend $ 2 trillion on stimulus, which is far more than market expectations. Meanwhile, data showed that Chinese exports grew more than expected in December, as coronavirus disruptions around the world boosted demand for Chinese goods. Carrefour (PA 🙂 fell 6.0% after the French government raised concerns about its acquisition by Canadian convenience store operator Alimentation Couche-Tard. Chipmakers got a boost after Taiwan’s TSMC posted a record quarterly profit due to demand for devices that require high-end chips. Semiconductor equipment makers ASML and ASMI rose nearly 4% after Barclays (LON 🙂 raised its target price on shares.

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