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European equities and Dow futures rise as optimism returns to the financial markets



Democratic Vice Presidential Candidate Sen. Kamala Harris (L) and United States Vice President Mike Pence attend the Vice Presidential Debate at the University of Utah on October 7, 2020 in Salt Lake City, Utah.

Pool / Getty Images

European equities rose on Thursday as optimism returned to the financial markets on signs that there may be stimulus for the world’s largest economy.

The Stoxx Europe 600
SXXP,
+ 0.53%

was up 0.5%, with gains including Swiss pharmaceutical manufacturer Novartis
NOVN,
+ 0.95%
,
and the German chemical company BASF
BAS,
+ 1.86%
.

The German DAX
DAX,
+ 0.55%

increased by 0.4%, the French CAC 40
PX1,
+ 0.37%

earned 0.3% and the UK’s FTSE 100
UKX,
+ 0.34%

increased by 0.1%.

US equities closed higher on Wednesday, with industrialists Dow
DJIA,
+ 1.91%

on 530 points, after both President Donald Trump and House Speaker Nancy Pelosi indicated support for smaller relief projects, even after Trump halted talks on a broader stimulus plan the previous day. US stock futures
ES00,
+ 0.41%

indicated further gains on Thursday.

“With coronavirus cases continuing to grow at a rapid pace and US elections approaching, we are reluctant to call for a long-lasting recovery. For now, hopes of partial, standalone and stimulating bills in the US may bolster investor morale for a while, ”said Charalambos Pissouros, senior market analyst at JFD Group.

The debate between Vice President Mike Pence and Democratic Vice Presidential candidate Kamala Harris on Wednesday night was a more traditional confrontation than the first presidential debate, and widely perceived as not having changed the dynamics of the election, in which former Vice President Joe Biden has a dominant advantage in polls.

Of stocks in motion, GVC Holdings
GVC,
+ 3.70%

rose 3% after the sports betting company revoked its profit guidance, helped by better-than-expected performance from its BetMGM joint venture with MGM Resorts
MGM,
+ 2.13%
.
GVC reported a 12% increase in net gaming revenues in the third quarter. Rival Flutter Entertainment
FLTR,
+ 1.54%

increased by 2%.

Shares in TalkTalk
SPEAK,
+ 16.50%

jumped 16% to 97p, after saying that Toscafund Asset Management made a non-binding offer of 97p per share to buy the UK telecommunications company. The proposal contains a number of preconditions, including support from TalkTalk’s largest shareholder, Executive Chairman Charles Dunstone.

Hargreaves Lansdown
HL,
-5.54%

it slipped 5% after the asset manager reported flat net new business in the end-September quarter.


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