Europe open: Stocks rise as Paris unveils fiscal stimulus measures

Stocks across the Continent are putting in fresh gains following news of Paris's plans to implement fiscal stimulus worth 4% of France's gross domestic product.

"News that France is throwing an additional €100 billion at its economy, and comments about the strength of the euro from ECB policymakers, have combined to provide fresh impetus to the rally in European stocks this morning," said IG's Chris Beauchamp.

"Equities continue to exhibit notable strength as they rise heedless of the ongoing tick higher in virus cases and signs that the economic rebound is slowing."

As of 1015 BST, the benchmark Stoxx 600 was up 0.97% at 375.02, alongside an advance of 1.38% for the German Dax to 13,425.77 while the FTSE Mibtel was adding 0.88% to 20,032.78.

Euro/dollar was dipping alongside, by 0.2% to 1.1831, after the Financial Times reported that European Central Bank officials were concerned that euro strength would weigh on Eurozone exports and prices.

French authorities laid out plans for a €100bn stimulus programme for the euro area's second-largest economy.

To the East, German finance minister, Olaf Scholz, made the case for fiscal stimulus again in 2021, albeit adding that the country's finances should return to normal in 2022.

In remarks to ARD television, the head of Germany's CDU/CSU, Ralph Brinkhaus, endorsed those plans.

IHS Markit's euro area services sector Purchasing Managers' Index for August was revised up from a preliminary reading of 50.1 to 50.5, although even that remained far beneath July's reading of 54.7.