European stocks extend Brexit deal gains

European stocks extended their year-end rally on Tuesday (Dec 29).

The pan-European STOXX 600 index was up around a percent in early trade, rising for a fifth straight session and scaling a new 10-month high.

In the first full day of trading since a Brexit trade deal was announced last Thursday UK stocks jumped on the opening.

Although they were broadly flat later in morning trade.

Hopes of an expanded U.S. stimulus package, as well as the euro zone's COVID-19 vaccination campaign also brightened prospects for global growth in 2021.

Travel and leisure stocks saw gains in morning deals.

German carrier Lufthansa was up over four percent.

While British Airways-owner IAG rose around 3 percent.

In tech, software group SAP rose over 3% to provide the biggest boost to Germany's DAX.

That after its unit, Qualtrics International, filed for a U.S. initial public offering.