European, Asian stock record gains

Gulf Today Report 

European stock bounces back on Monday following heavy losses in early deals.

In the eurozone, Frankfurt's DAX 30 rose 1.1 per cent to 13,584.47 points and the Paris CAC 40 added almost 1.0 per cent to stand at 5,451.12. London’s benchmark FTSE 100 index up 0.7 per cent at 6, 452.24 points. 

Equities bounced as dealers remain on edge due to the impact of coronavirus pandemic and delay in vaccine rollout. 

Asian stock 

Asian stock markets jumped on Monday after AstraZeneca agreed to increase vaccine supplies to Europe. 

Shanghai, Tokyo, Hong Kong and Seoul advanced.  

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The Shanghai Composite Index rose 0.1% to 3,486.46 and the Nikkei 225 in Tokyo added 1.4% to 28,041.27.  The Hang Seng in Hong Kong gained 1.9% to 28,822.61.

The Kospi in Seoul surged 2.2% to 3,042.19 and Sydney's S&P-ASX 200 added 0.8% to 6,661.70. India's Sensex opened down 0.2% at 46,759.42. New Zealand and Singapore declined while Bangkok and Jakarta advanced. 

In a report, Mizuho Bank said, "Concerns around the pandemic seemed to return in full force as vaccine distribution and efficacy issues re-emerged even with the virus spread gaining momentum.”

Investors have bid up stocks in expectation the rollout of coronavirus vaccines would allow global business and travel to return to normal. That optimism has been dented by new infection spikes and disruptions in vaccine deliveries.