BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on Monday, despite mixed Asian cues, following news that the United States will start Covid-19 vaccinations today after the drug regulators approved the Pfizer- BioNTech's COVID-19 vaccine.
The U.S. Centers for Disease Control and Prevention or CDC, gave the approval for Pfizer- BioNTech's COVID-19 vaccine, following the Emergency Use Authorization or EUA issued by the U.S. Food and Drug Administration. Pfizer commenced first shipments of the vaccine to distribution centers across the country.
Investor sentiment also reflected hopes for a post-Brexit trade deal after the European union and the U.K. extended negotiations beyond the Sunday deadline. U.K Prime Minister Boris Johnson and EU Commission President Ursula von der Leyen agreed to 'go the extra mile' in coming days to reach a deal.
In economic releases, figures released by Destatis revealed that Germany's wholesale prices declined 1.7 percent year-on-year in November, but slower than the 1.9 percent decrease logged in October. On a monthly basis, wholesale prices rose 0.1 percent, the first monthly increase in four months.
Further, Dutch exports rose for the second straight month and imports declined in October, figures from the statistical office CBS showed on Monday.
Asian stocks ended mixed on Monday, despite positive news about covid-19 vaccine distribution in the U.S. following approval, as well as extended Brexit talks.
In Europe, the pan European Stoxx 600 traded up 3.9 points or 1 percent at 393.97.
Germany's benchmark DAX was up 158 points, or 1.2 percent, at 13,273 after losing 1.4 percent in the previous session.
France's CAC 40 index gained 65 points, or 1.2 percent, at 5,572 after dropping 0.8 percent on Friday.
U.K.'s FTSE 100 traded up 32 points or 0.5 percent at 6,579, after losing 0.8 percent the previous day.
On the corporate side, Novartis shares were trading down 0.5 percent after the Swiss drug major, along with Incyte Corp., announced that their RUXCOVID Phase III study of ruxolitinib for hospitalized patients with COVID-19 failed to meet primary endpoint.
In Germany, automakers Volkswagen gained 1.7 percent. Daimler was up 1.4 percent and BMW up 2 percent. Chemical companies Bayer traded 1 percent higher, and BASF gained 1.6 percent.
CureVac N.V. shares were trading 7 percent higher after the German biotechnology company said it has initiated Covid vaccine trial by enrolling the first participant in the pivotal Phase 2b/3 study of its mRNA vaccine candidate, CvnCoV. The study is expected to include more than 35,000 participants at sites in Europe and Latin America.
In France, Vivendi stock was up 1.4 percent after it entered into exclusive negotiations with Gruner + Jahr/Bertelsmann to acquire Prisma Media, a French press publishing group.
Arkema S.A stock added 1 percent after it reached a deal with Trinseo to sell polymethyl methacrylates and activated methyl methacrylates businesses in about $1.36 billion deal.
In U.K., Codemasters Group Holdings PLC's stock gained around 20.1 percent after Electronic Arts Inc. agreed for a recommended acquisition of the UK-based game developer and publisher in a deal with enterprise value of $1.2 billion. Codemasters said it intends to unanimously recommend the Electronic Arts offer.
Capita plc's shares traded 7 percent higher after it agreed to sell Education Software Solutions business in a deal that values ESS at up to 400 million pounds.
SThree Plc stock was up 2 percent, despite reporting an 8 percent decline in Group net fees for fiscal 2020.
Shares of sustainable water and climate management solutions provider Polypipe Group plc grew 11 percent after the company said its performance in November and the likely outcome of December exceeded expectations again.
Meanwhile, AstraZeneca Plc shares lost 7 percent despite two positive decisions by the European Union. AstraZeneca and Daiichi Sankyo's trastuzumab deruxtecan has been recommended for conditional marketing authorisation in the EU as a monotherapy to treat metastatic HER2-positive breast cancer. Further, Trixeo Aerosphere has been approved in the EU for maintenance treatment in moderate to severe chronic obstructive pulmonary disease.
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