After the worst day, Europe’s stocks are back on the rise


Source: Reuters

European stock markets rose again on Friday, from their worst day ever, as signs of a US stimulus package helped allay fears about an economic shock due to the Corona virus.

The pan-European STOXX 600 index rose 4% after tumbling 12% on Thursday due to heightened concerns about a liquidity crisis after the European Central Bank decided to keep interest rates unchanged.

The collapse erased more than a trillion dollars in European companies ’value and the global MSCI index fell strongly to a falling market, but sentiment stabilized today after indications that Republicans and Democrats in the United States would soon agree on a stimulus package.

Roche, the Swiss diagnostic systems maker, jumped 4.7% after the US Food and Drug Administration issued an emergency license for a faster test to diagnose the coronavirus, which the company had found.

Shares of German Wirkard Payments rose 17.3% topping the list of bullish shares on the Stoxx 600 index after saying that the “KBMG” audit concluded that there was no tampering with the company’s financial statements.


Please enter your comment!
Please enter your name here