Europe midday: Slight gains for stocks as German Covid-19 infections drop

Share are rising across the Continent with investors apparently cheered by some positive news on the pandemic front.

On Monday morning, German authorities announced that the number of new infections had fallen sharply over the preceding 24 hours and that the reproduction rate of Covid-19 was holding below the key level of 1.0 meaning that infections were again trending lower.

Nonetheless, also at the weekend, the number of people infected with the novel coronavirus had breached the 10.0m mark and the number of fatalities half a million.

In the background meanwhile, financial markets were waiting on monthly US jobs report, due out on Thursday, which was expected to show continued growth in hiring.

Against that backdrop, as of 1300 BST, the benchmark Stoxx 600 was edging up by just 0.08% to 358.62, but the German Dax was ahead by 0.51% to 12,150.75, while the FTSE Mibtel had put on 1.28% to trade at 19,369.32.

Travel&Leisure issues on the Stoxx 600 meanwhile were exhibiting some volatility following news that the UK was set to lift quarantine requirements for travellers from certain countries.

Politics was also in focus, with the Greens in France putting in a surprisingly strong showing in municipal elections at the weekend, making off with control of several large cities including Lyon, Bordeaux and Strasbourg - often with help of lwft-wing allies.

In Poland, prime minister Andrezj Duda received 43.7% of support in the country's elections, meaning he would have to face off in a run-off vote with his liberal rival, the mayor of Warsaw, Rafał Trzaskowski.

There was also some positive news to be heard ahead of a meeting scheduled for later on Monday between the UK's chief trade negotiator, David Frost, and the European Union's number two official for trade, Clara Martinez Alberola.