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Stock indices of Western Europe rose significantly in trading on Monday amid a rally in global markets due to lower yields on US government bonds and positive news about the coronavirus. The composite index of the largest enterprises in the region Stoxx Europe 600 by 12:20 Moscow time increased by 1.7% and amounted to 411.86 points. The British indicator FTSE 100 by this time increased by 1.85%, the German DAX – by 1.11%, the French CAC 40 – by 1.55%. Italy’s FTSE MIB and Spain’s IBEX 35 added 1.55% and 1.83%, respectively. The sell-off in the global government bond markets has stopped amid promises of world central banks to continue to pursue a stimulating monetary policy. This contributed to the easing of worries in the markets and a decrease in the yield of US Treasuries, Bloomberg writes. In the past few weeks, stock markets have been under pressure due to the decline in the attractiveness of stocks amid rising government bond yields. US Federal Reserve System (FRS) Chief Jerome Powell said last week that the Fed will maintain a loose monetary policy until the US economy fully recovers from the effects of the COVID-19 crisis. The stock markets are also supported by strong financial statements of companies, positive news about COVID-19 and growing expectations of the adoption by the US Congress of a new package of measures to support the economy proposed earlier by US President Joe Biden, CNBC notes. As reported, the House of Representatives last weekend approved Biden’s proposed $ 1.9 trillion stimulus package. The statistics released on Monday showed that the purchasing managers’ index (PMI) in the manufacturing sector of the eurozone rose to a three-year high in February 2021. The value of the indicator was 57.9 points compared to 54.8 points in January, according to the final data of the calculator IHS Markit. The preliminary figure stood at 57.7 points, analysts on average expected it to remain at this level, according to Trading Economics. The top gainers among Stoxx Europe 600 components were shares of the cruise operator Carnival PLC, which jumped 6.4%, and shares of the British developers Hammerson PLC and Persimmon PLC, which gained 6.1% and 5.9%, respectively. Bank of Ireland Group PLC shares gained 4.7%. The bank recorded a pre-tax loss in 2020 amid a decline in net interest income and lending volumes. Ferrari NV capitalization grows by 1.3%. The Italian sports car manufacturer has announced that its board of directors intends to recommend to shareholders that they decide to pay dividends to common shareholders in the amount of € 0.867. Danone SA shares are up 2%. The French food and beverage company plans to sell its stake in China’s Mengniu Dairy Co. this year. The French company will return the proceeds from the sale of the Mengniu stake to shareholders through the repurchase of shares. Source: FINMARKET.RU

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