European, US stocks hover near record highs on Covid recovery hopes – business live

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Rolling coverage of the latest economic and financial news as Covid recovery hopes lift markets

7.59am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

European indexes including Germany’s DAX and the FTSE 250 are hovering near record highs, as investors reacted positively to upgraded global growth forecasts by the IMF, which said yesterday that a stronger than expected recovery from the Covid crisis was on the horizon.

European and US stock futures are trading lower, but they are still hovering near their all-time high as investors remain optimistic about stimulus-supported recovery.

One particular takeaway from Joe Biden’s speech yesterday was that he has full confidence in his team.

European Opening Calls:#FTSE 6855 +0.47%#DAX 15217 +0.03%#CAC 6137 +0.10%#AEX 711 -0.30%#MIB 24790 +0.12%#IBEX 8651 +0.19%#OMX 2227 -0.16%#STOXX 3969 -0.03%#IGOpeningCall

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