UK and European stocks are higher this morning extending last week’s gains, although potential negatives are being monitored by investors. These include the spread of the South Africa coronavirus variant and reports that Astrazeneca’s vaccine showed limited efficacy against mild disease caused by it.

Market sentiment was lifted last week by the expectation that US President Jow Biden will soon deliver on his $1.9 trillion stimulus package. The Senate and the House both passed a budget resolution on Friday that will allow the proposal to be passed in the Senate on a simple majority.

Earnings will be in focus again this week with major companies reporting including Twitter, Uber, Coca-Cola and Disney.

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