European equities advanced on Monday, during the first trading session of the new year.
The pan-European Stoxx 600 climbed 1.2% in early trading, while travel and leisure stocks bounced 3.2% to earn gains as all sectors and major exchanges entered positive ground.
From one day to the next, European markets are going against the trend in Asia and the US; US stock futures fell Sunday night, while Asia-Pacific stocks tended to be higher.
Stocks in mainland China rose by noon after a private poll released Monday showed China’s manufacturing activity increased in December; The official manufacturing PMI released last Thursday showed that the country’s manufacturing activity grew in December, albeit at a slower pace than in November.
The coronavirus pandemic remains the main focus for European markets as the UK’s separation from the EU was completed on New Year’s Eve.
The post-Brexit trade relationship between the UK and the EU has now begun with onlookers waiting to see if there is any disruption to trade flows due to new rules and paperwork for exporters.