European Stocks Lose Strength But Optimism Continues To Reign

By Staff of Admiral Markets

Access To Financial Markets Made Easy • Nov 11, 2020 at 10:03 AM EST

The European stock markets have continued to register gains for another day, still driven by the advances of the COVID-19 vaccine announced by Pfizer together with BioNtech at the beginning of the week.

The European stock markets have continued to register gains for another day, still driven by the advances of the COVID-19 vaccine announced by Pfizer (PFE) together with BioNtech at the beginning of the week. However, the rises are much more moderate as none of the main indices have exceeded a 0.5% rise.

Today, in addition, several companies have presented results, such as Mediaset, the Italian television group, which rose more than 7% in the stock market after increasing its advertising revenue despite the coronavirus pandemic. In Germany, E.On has reported a drop in its earnings in the third quarter, but has confirmed its outlook for the year as a whole due to the recovery of the market, so its shares are up almost 1%.

The exception is ABN AMRO (AAVMY), whose shares fell more than 3% due to results that haven't convinced investors, despite being better than expected.

(Click on image to enlarge)

ABN AMRO CFD Daily Chart

Source: Admiral Markets MetaTrader 5. ABN AMRO CFD Daily Chart. Data range: from November 19, 2015, to November 11, 2020. Prepared on November 11, 2020, at 11:30 am. Please note that past performance does not guarantee future returns.

On the other hand, apart from the vaccine and corporate results, the market is also awaiting intervention from the president of the European Central Bank (ECB), Christine Lagarde, at 2:00 p.m. CET.

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