European stock futures rise together with global economic recovery hopes

European stock markets produced positive results on Wednesday’s trade session as the global economic recovery hopes glimmered. The European region is now seen to take charge over the third wave of coronavirus cases.

Germany’s DAX futures contract gained 0.1%. CAC futures contract in France and the FTSE 100 futures contract in the U.K. improved 0.1 and 0.3$, respectively.

Central banks’ sustained fiscal support and a brighter global growth outlook boosted investor sentiment. On Tuesday, the International Monetary Fund leveled up its 2021 global growth prediction to 6%, slightly higher from the previous 5.5% growth forecast set nearly three months ago. The IMF said the revision was due to unprecedented public spending, primarily by the United States.

However, with the largest economy in the European region with only a 3.6% growth rate prediction for 2021, the growth outlook for Europe is less impressive.