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European shares extend gains on stimulus boost

Published 05/28/2020, 03:37 PM
Updated 05/28/2020, 03:40 PM
© Reuters.
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
May 28 (Reuters) - European shares rose for the fourth
straight session on Thursday, as optimism over businesses
returning to work and a massive stimulus plan for the European
Union outweighed concerns over rising U.S.-China tensions.
The pan-European STOXX 600 .STOXX rose 0.6% by 0718 GMT,
with travel & leisure .SXTP , telecoms .SXKP and automakers
.SXAP leading the gains.
The benchmark index has climbed more than 30% from March
lows as investors pinned hopes on a gradual recovery with
policymakers injecting trillions of dollars in the global
economy and drugmakers racing to develop a coronavirus vaccine.
French aerospace companies Airbus AIR.PA and Safran
SAF.PA rose 0.5% and 2.2%, respectively, after Boeing Co
BA.N said it had resumed production of its 737 MAX passenger
jet at its Washington plant. Scandinavian airline SAS SAS.ST slumped 9.1% after
reporting a deep loss in the second quarter and said it was in
intensive talks with shareholders to tap more funding to help it
ride out a collapse in global air travel.

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