European stocks extended their year-end rally on Tuesday as a Brexit trade deal, hopes of an expanded U.S. stimulus package and euro zone’s marathon COVID-19 vaccination campaign brightened prospects for global growth in 2021.

The pan-European STOXX 600 was up 0.8% by 0828 GMT, rising for a fifth straight session and scaling a new 10-month high.

UK stocks were higher after a long weekend, with the blue-chip FTSE 100 jumping 1.6% after the sealing of a Brexit trade agreement between Britain and the European Union on Thursday.

The German DAX rose 0.6% and extended a record run as global markets rallied on hopes that a long-awaited U.S. pandemic relief package would be expanded.

Software group SAP provided the biggest boost to the DAX after its unit, Qualtrics International Inc, filed for a U.S. initial public offering of up to $100 million.


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