European stocks advanced on Monday, in the first trading session of the new year.
The pan-European Stoxx 600 rose 1.2% in early business, with travel and leisure stocks bouncing 3.2% to lead gains as all sectors and major stock markets entered positive territory.
European markets are rejecting the trend marked in Asia and the United States overnight; Futures on U.S. stocks fell Sunday night, while stocks in Asia-Pacific were mostly higher.
Mainland China’s stocks rose in the afternoon after a private survey released on Monday showed Chinese manufacturing activity in December; China’s official manufacturing PMI released last Thursday showed the country’s factory activity expanding in December, albeit at a slower pace compared to the November reading.
The coronavirus pandemic remains the main focus of European markets, now that the UK’s separation from the EU was completed on New Year’s Eve.
The post-Brexit trade relationship between the UK and the EU has now begun with spectators waiting to see if there is any disruption in trade flows caused by new rules and formalities for exporters.