European shares remained at 10-month highs on Thursday, as hopes of more stimulus in the United States and potential COVID-19 vaccine rollouts in Europe strengthened the case for a global economic recovery.
Germany’s DAX climbed 1% to hit its highest since February, while the pan-European STOXX 600 index rose 0.5%, both extending gains to a fourth straight session.
Germany and France said they were set to begin inoculating their citizens with the Pfizer-BioNtech vaccine in the last week of December, once it is approved by the European Medicines Agency.
London’s FTSE 100 was up 0.3% with eyes on a Bank of England meeting later in the day. The bank is expected to keep policy unchanged, awaiting the fate of a trade deal ahead of Britain’s exit from the bloc by the year-end.
Shares of WPP Plc jumped 2.9% as the world’s biggest advertising firm said it expects to return to its 2019 level of net sales by 2022.
Novartis rose 0.8%, after the drugmaker said it would acquire U.S.-based neuroscience company Cadent for up to $770 million.