Financial Markets Daily Report

Financial Markets Daily Report
01 December 2020

Investors on Monday traded in their gains after one of the best months in decades for stock markets, during which breakthroughs in Covid-19 vaccines boosted stock valuations in sectors affected by the pandemic.

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  • Investors on Monday traded in their gains after one of the best months in decades for stock markets, during which breakthroughs in Covid-19 vaccines boosted stock valuations in sectors affected by the pandemic.
  • In Europe, the Eurostoxx50 dipped 1.0% and sovereign yields edged up as the Eurogroup reached an agreement on the ratification of the ESM Treaty reform, which among other things establishes a backstop to the Single Resolution Fund.
  • In the US, lower risk appetite due to lower prospects for a large fiscal stimulus drove the S&P 500 down 0.5% and the dollar up 0.3% against the euro.
  • The barrel of Brent fell 1.2% to $47.6 as oil producers continue to discuss at an OPEC meeting whether to delay a planned increase in supply.
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