Global Stocks Rise on Recovery Hopes

Global shares rose to levels just shy of record highs on Monday, as optimism over a 1.9 trillion U.S. stimulus plan outweighed rising COVID19 cases and delays in vaccine supplies.

European stock markets opened higher, with the panEuropean STOXX 600 up 0.3. The continents 50 biggest stocks were also up 0.3. .EU

Germanys DAX rose 0.2, Italys FTSE MIB index jumped 0.6 and Britains FTSE 100 rose 0.1. Spains IBEX and Frances CAC 40 faltered, down 0.1 each.

A rally in U.S. tech stocks to near record highs on Friday helped fuel gains in their counterparts in Asia and Europe. A European basket of tech stocks gained 1.2. In Asia, Chinese tech giant Tencent soared 11.

MSCIs All Country World index, which tracks stocks across 49 countries, was up 0.3 on the day.

Global equity markets have scaled record highs in recent days on bets COVID19 vaccines will start to reduce infection rates worldwide and on a stronger U.S. economic recovery under President Joe Biden.

Investors are also wary about towering valuations amid questions over the efficiency of the vaccines in curbing the pandemic and as U.S. lawmakers continue to debate a coronavirus aid package.

All eyes are on Washington D.C. as U.S. lawmakers agreed that getting the COVID19 vaccine to Americans should be a priority even as they lock horns over the size of the U.S. pandemic relief package.

Financial markets have been eyeing a massive package, though disagreements have meant months of indecision in a country suffering…

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