European shares extend gains on recovery hopes

  • Reuters
  • Stock Market News
European shares extend gains on recovery hopes
Credit: © Reuters.

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Jan 7 (Reuters) - European stocks climbed for a second straight session on Thursday, driven by hopes that a bumper U.S. stimulus package and large-scale coronavirus vaccine rollouts across the continent will spur a strong economic recovery.

The pan-European STOXX 600 index .STOXX rose 0.4% to hold near February 2020 highs, while London's blue-chip FTSE 100 .FTSE gained 0.5% and Germany's DAX index .GDAXI was up 0.2%.

Growth-linked cyclical sectors such as miners .SXPP , energy .SX7E and construction & materials .SXOP continued their rally on the prospects of more U.S. stimulus after Democrats won control of the Senate. individual stocks, Delivery Hero DHER.DE slipped 1.8% after the German food delivery firm said it had raised around 1.2 billion euros ($1.48 billion) by issuing new shares to fund growth. LHN.S rose 1.4% after the world's biggest cement maker said it would buy Firestone Building Products from Bridgestone Americas in a deal worth $3.4 billon.

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