ECB President Christine Lagarde tells CNBC the recovery this year may be “delayed, not derailed” amid further lockdowns and the risk of new virus variants. French Finance Minister Bruno Le Maire says the roll-out of the vaccine programme will be critical. President Joe Biden signs an executive order aiming to ramp up the U.S. manufacturing sector, while German economy minister Peter Altmaier is calling for a more attractive European model. In Italy, Prime Minister Giuseppe Conte is set to strategically resign in a move to seek a mandate to form a new government. And in banking news, UBS Q4 profit jumps by 137 per cent as the Swiss bank says current client activity points to further revenue increases in the first quarter.

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