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3.04pm BST

Stock markets gained ground in the US and Europe on Wednesday thanks to hopes that lockdowns will ease, allowing economies to stutter to a start again.

However, early gains moderated as the day wore on - illustrating the delicate balance between optimism over reopening and the major costs still to emerge from the pandemic.

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2.34pm BST

US stock markets have gained at the opening bell on Wall Street - matching the positivity seen outside of Asia today as investors bet on recovery.

Here are the early moves: