Europe Stocks Climb Higher after US Congress Approve Bill to Increase Debt Ceiling
Stocks in Europe and Asia have risen in response to the debt ceiling
increase approved by lawmakers in the US.
Stocks in Europe opened higher today after the US Senate approved a bill to suspend the government’s
debt ceiling. Following a
63-36 vote, US lawmakers agreed to raise the debt ceiling to prevent the country’s first-ever debt default.
Congress has now sent the approval to President Joe Biden for assent.
As of
9:30 am London time this morning, the
STOXX Europe 600 climbed 0.7% after crashing to its lowest point in two months only a few days ago. Oil and gas also
increased by 1.3%, while mining stocks rose
2.6% higher. In addition, France’s
CAC40 and Germany’s DAX both climbed 0.7%. So far, reactions to the debt ceiling suspension have been favorable even though the votes at the House of Representatives and Senate were not landslide victories.
