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European shares jump again on stimulus bump

by Compiled from Wire Services

ISTANBUL Mar 25, 2020 - 11:22 am GMT+3
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 20, 2020. (Reuters Photo)
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 20, 2020. (Reuters Photo)
by Compiled from Wire Services Mar 25, 2020 11:22 am

European shares rose on Wednesday following a strong rally in the previous session, as investors bet on unprecedented stimulus measures to ease the economic pain on businesses and households from the coronavirus pandemic.

The pan-European STOXX 600 index was up 2.1% at 0804 GMT, with energy, industrials, financials and miners leading gains for a second straight day.

The benchmark index has now recovered its losses from mid-March on the back of extraordinary fiscal and monetary stimulus from Europe and the United States. On Wednesday, U.S. officials agreed on a whopping $2 trillion stimulus package.

Still, the European bourse is down more than 25% from its record high last month in the biggest rout since the financial crisis, with another global recession looming in the face of a collapse in business activity in March.

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