European markets in holiday-thinned trade

LONDON — European markets are set to creep larger at the beginning of the final buying and selling week of 2020, as merchants react to Brexit developments and as President Donald Trump signed a $900 billion Covid-19 aid invoice into regulation.

The U.Ok. FTSE 100 index will stay closed on Monday for the vacations, however France's CAC 40 and Germany's DAX index are set to rise.

Trump averted a authorities shutdown late Sunday, and prolonged unemployment advantages to thousands and thousands of Americans. The signing got here days after Trump prompt he would veto the laws, demanding $2,000 direct funds to Americans, as an alternative of $600. Stock futures in the U.S. rose barely on the information.

In Asia, shares of Alibaba in Hong Kong dropped greater than 8% for the second straight session after Chinese regulators ordered Alibaba-affiliate Ant Group to rectify its companies.

Back in Europe, merchants will doubtless react to the announcement of a Brexit trade deal between the U.Ok. and the EU. The settlement, sealed after markets closed on Dec. 24, nonetheless must be authorised this week by each U.Ok. and EU Parliaments earlier than the Dec. 31 deadline.

—CNBC's Eustance Huang and Yun Li contributed to this text.

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