| schema:articleBody
| - Global stock markets mostly rose Wednesday after the White House put forward a fresh stimulus proposal of $916 billion, lifting hopes US lawmakers could pass a deal before Christmas. The dollar retreated, while the pound fought back strongly after heavy Brexit-linked losses this week. The prospect of a rescue package for the world's top economy has helped revive equities, which have drifted for most of the month after November's surge, while the rollout of coronavirus vaccines in Britain and imminent authorisation in the US has added to the optimism. Asia and European investors were given a strong lead from Wall Street, where the Nasdaq and S&P 500 notched fresh records Tuesday. The S&P 500 kept moving higher at the open on Wednesday but the Nasdaq slipped. The blue-chip Dow also climbed and set a new all-time intraday high within the first 10 minutes of trading. But spiking Covid-19 cases around the world and the imposition of tough containment measures nevertheless continue to cast a long, dark shadow over trading floors. "The risk-on trading stance is back on most benchmarks after the $916-billion stimulus package proposal from US Secretary of Treasury Steven Mnuchin offset mounting fears due to rising Covid-19 numbers," said ActivTrades analyst Pierre Veyret. Equities have struggled this week as focus has been on the pandemic but Mnuchin provided a much-needed shot in the arm Tuesday when he said he had presented Democrat House Speaker Nancy Pelosi with a new economic rescue package. The $916 billion (756-billion-euro) plan is bigger than the $908 billion proposal put forward last week by a bipartisan group of lawmakers. "With the markets starting to exhibit some year-end fatigue, any stimulus holiday stocking-stuffer will come at a most welcome time and ensure that well-subscribed equity markets will cross the year-end finishing line on a positive note," noted Axi strategist Stephen Innes. Focus in Europe was also heavily on Brexit. British Prime Minister Boris Johnson has flown to Brussels for talks with EU chief Ursula Von der Leyen, just weeks ahead of the December 31 deadline for a post-Brexit trade deal. "Sentiment is positive... ahead of the meeting between Prime Minister Johnson and the EU Commissioner Von der Leyen," said CMC Markets analyst David Madden. "Volatility is likely to be low throughout the session as some traders will probably play the wait and see game. There are no guarantees that a deal will be reached." Britain made a gesture of good faith by withdrawing controversial elements of a legislative package concerning the future border in Ireland. But while EU member Ireland said a pact between the sides on post-Brexit Northern Ireland offered some hope for a broader trade deal, optimism was at a premium. London - FTSE 100: UP 0.4 percent at 6,582.60 points Frankfurt - DAX 30: UP 0.8 percent at 13,383.39 Paris - CAC 40: UP 0.1 percent at 5,567.41 EURO STOXX 50: UP 0.4 percent at 3,538.73 New York - Dow: UP 0.4 percent at 30,296.07 Tokyo - Nikkei 225: UP 1.3 percent at 26,817.94 (close) Hong Kong - Hang Seng: UP 0.8 percent at 26,502.84 (close) Shanghai - Composite: DOWN 1.1 percent at 3,371.96 (close) Pound/dollar: UP at $1.3428 from $1.3355 at 2200 GMT Euro/pound: DOWN at 90.22 pence from 90.62 pence Euro/dollar: UP at $1.2127 from $1.2104 Dollar/yen: DOWN at 104.18 yen from 104.16 yen West Texas Intermediate: UP 0.7 percent at $45.91 per barrel Brent North Sea crude: UP 0.7 percent at $49.20 per barrel burs-rl/lc
|
![[RDF Data]](/fct/images/sw-rdf-blue.png)
![[cxml]](/fct/images/cxml_doc.png)
![[csv]](/fct/images/csv_doc.png)
![[text]](/fct/images/ntriples_doc.png)
![[turtle]](/fct/images/n3turtle_doc.png)
![[ld+json]](/fct/images/jsonld_doc.png)
![[rdf+json]](/fct/images/json_doc.png)
![[rdf+xml]](/fct/images/xml_doc.png)
![[atom+xml]](/fct/images/atom_doc.png)
![[html]](/fct/images/html_doc.png)