FAST FIVE: Futures, Bitcoin And Brent Soar On Biden Transition, Yellen Return
After weeks of legal challenges to the election results, US General Services Administration chief Emily Murphy wrote to Biden on Monday informing him the formal handover process could begin.
ASX 200 (+1.3%) was led higher by outperformance in energy and its largest-weighted financials sector, with sentiment also helped by preliminary trade data which mostly showed an improvement, as well as the reduced restrictions with Queensland set to reopen its border with New South Wales from December 1st.
Back to Europe, broad-based gains are seen across the most majors, whilst CAC 40 (+1.2%) narrowly outperforms as Total (+4.8%) is propelled by gains in crude prices alongside news that the giant is mulling a voluntary redundancy plan in France whilst also halting operations in its loss-making Donges refinery.
Delving deeper into sectors, the cyclical vs defensives bias is again experienced as Autos, Banks, Travel & Leisure, and Telecoms are some of the top performers, whilst Healthcare, Staples and Utilities reside as straddlers.
They weren't the only safe havens to struggle, as gold prices fell -1.77% to a 4-month low of $1,838/oz.