Boris Johnson

European Markets Close Higher in First Trading Session of the New Year

Marco Bello | Anadolu Agency | Getty Images
  • The pan-European Stoxx 600 closed up by 0.7% provisionally, with basic resources adding 3.9% to lead the gains.
  • In the U.K., Prime Minister Boris Johnson is expected to announce tough new restrictions to curb the spread of Covid-19.
  • Ladbrokes owner Entain soared 25% after the betting and gaming company confirmed a takeover offer from MGM Resorts International.

European stocks advanced on the first trading session of the new year, despite lingering concerns over the rising number of coronavirus cases around the world.

The pan-European Stoxx 600 closed up by 0.7% provisionally, with basic resources adding 3.9% to lead the gains as most sectors and major bourses entered positive territory.

Stateside, stocks fell as traders fretted over the growing number of Covid-19 infections globally.

Data compiled by Johns Hopkins University showed more than 20 million Covid-19 infections have been confirmed in the U.S. Several cases of a new coronavirus strain have also been confirmed across the country.

Globally, more than 85 million cases have been confirmed. In the U.K., Prime Minister Boris Johnson is expected to announce tough new restrictions to curb the spread of the virus.

Johnson said Sunday that more restrictions were likely on the way as Covid-19 cases keep rising. He is due to make make a televised address at 8 p.m. London time.

The U.K. began rolling out the coronavirus vaccine developed by AstraZeneca and the University of Oxford on Monday, marking another step in the global battle against the pandemic.

In terms of individual share price movement, Ladbrokes owner Entain soared 25% after the betting and gaming company confirmed a takeover offer from MGM Resorts International.

Anglo-Mexican mining company Fresnillo also jumped over 10% to lead a broad rally for the basic resources sector.

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