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| - Most stock markets advanced on Wednesday and bitcoin broke above $20,000 for the first time, as prospects brightened for more US economic stimulus and a Brexit trade deal. Potential for an earlier EU rollout of coronavirus vaccines boosted investor's mood further. The dollar faltered, however, as a surge in virus cases and further restrictive measures continued to drive a tug-of-war between long-term optimism and near-term pain. Bitcoin, the leading virtual currency, traded above $20,000 for the first time, marking an astounding leap in the past year as financial markets developed more appetite for riskier assets. Just 12 years old, bitcoin reached a record-high $20,787 before easing back to $20,612. It has seen a meteoric rise since March, when it stood at $5,000, spurred by online payments giant PayPal saying it would enable account holders to use cryptocurrency. The pound built on recent gains as British and European negotiators press on with talks on a post-Brexit trade deal. Traders were awaiting the conclusion Wednesday of the Federal Reserve's latest policy meeting, hoping for some guidance on its plans for monetary policy in the new year. "Stock markets were off to a promising start in Europe and Wall Street is poised for small gains as negotiations on both sides of the pond see much needed progress," noted Craig Erlam, analyst at Oanda trading group. After months of stuttering talks between lawmakers in Washington, there appear to be signs of progress on a new rescue package for the world's top economy. Hopes that the EU economy can get back on track next year got a lift Tuesday when the European Medicines Agency said it had brought forward a meeting to decide on authorising the Pfizer-BioNTech vaccine by more than a week to December 21. The vaccine is already being administered in Britain, the US and Canada. That came as the US Food and Drug Administration recommended experts give the go-ahead later this week to a second vaccine, produced by Moderna. "Progress over an economic relief package in Washington, Brexit deal optimism that could settle by week's end, and the likely seamless rollout of multiple highly effective vaccines have mixed to paint trading screens Christmassy green," said Axi strategist Stephen Innes. The need for a big rollout of the vaccine has been laid bare by soaring infection and death rates around the world, which have led governments to impose strict containment measures leading into the Christmas holidays. London - FTSE 100: UP 0.6 percent at 6,549.86 points Frankfurt - DAX 30: UP 1.3 percent at 13,537.99 Paris - CAC 40: DOWN 0.1 percent at 5,525.66 EURO STOXX 50: UP 0.3 percent at 3,532.24 New York - Dow: DOWN 0.2 percent at 30,148.80 Tokyo - Nikkei 225: UP 0.3 percent at 26,757.40 (close) Hong Kong - Hang Seng: UP 1.0 percent at 26,460.29 (close) Shanghai - Composite: FLAT at 3,366.98 (close) Pound/dollar: UP at $1.3511 from $1.3457 at 2150 GMT Euro/pound: DOWN at 90.27 pence from 90.36 pence Euro/dollar: UP at $1.2199 from $1.2159 Dollar/yen: DOWN at 103.54 yen from 103.61 yen West Texas Intermediate: DOWN by 0.1 percent at $47.57 per barrel Brent North Sea crude: FLAT at $50.73 per barrel dan-bcp/wai/jxb
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