European stocks, Asian stocks advance on US Election Day
03 Nov 2020
Picture used for illustrative purpose. File
Gulf Today Report
Stock markets in Europe rose at opening on Tuesday due to gains overnight, with all attention on US as Americans head to the polls.
London's benchmark FTSE 100 advanced 1.1 per cent to 5,715.53 points, Paris CAC 40 rose 0.9 per cent to 4,734.09 and Frankfurt's DAX 30 was up 0.6 per cent at 11,860.97.
City Index analyst Fiona Cincotta said, the economic calendar is relatively quiet in the UK and eurozone, with events on the other side of the Atlantic expected to drive sentiment as attention switches firmly to Election Day.
She added that investors are bracing themselves for plenty of market moving headlines later tonight which is expected to bring significant volatility.
In the national polls, Joe Biden has been leading for weeks as President Donald Trump face backlash of the way his government handled the coronavirus.
Although, Tuesday is the official Election Day, Americans have been voting for weeks. One of the measures put in place to safeguard against Covid-19 pandemic during the election is the expansion of mail-in voting. So far, nearly 100 million Americans have voted.