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

0
60


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.







LEAVE A REPLY

Please enter your comment!
Please enter your name here