BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were moving higher on Monday after U.S. President Joe Biden's Covid relief package was passed with 50-49 votes from the Senate on Saturday, paving the way for $1,400 checks and jobless benefits.
The bill will be discussed in the House, with a vote due this week. Democrats want the bill to be cleared before March 14, when the current expanded unemployment benefits run out.
The benchmark CAC 40 rose 36 points, or 0.6 percent, to 5,818 after giving up 0.8 percent on Friday.
Valneva SE shares rallied 3 percent. The specialty vaccine company and Pfizer Inc. have initiated Phase 2 VLA15-221 study for Lyme disease vaccine candidate.
Total SE gained 0.8 percent as oil prices hit new records boosted by reports of attacks on Saudi Arabian facilities.
Banks BNP Paribas, Credit Agricole and Societe Generale all rose about 2 percent.
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