Investing.com - Financial Markets Worldwide
⚠ Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

European shares gain as Trump plans to reopen U.S. economy

Published 04/17/2020, 03:23 PM
Updated 04/17/2020, 03:30 PM
© Reuters.
NOKIA
-
STOXX
-
SXPP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
April 17 (Reuters) - European shares jumped on Friday,
clawing back weekly declines as financial markets globally drew
comfort from U.S. President Donald Trump's plans for a gradual
re-opening of the U.S. economy and reports of a potential drug
to treat COVID-19.
The pan-European STOXX 600 index .STOXX was up 2.5% at
0712 GMT, shrugging off data showing China suffered its worst
economic contraction in almost three decades as the pandemic
crushed business activity.
All the major European sub-sectors were trading higher, with
mining stocks .SXPP surging 4.1% on the back of higher
commodity prices.
The benchmark STOXX 600 has now recovered about 24% since
hitting an eight-year low in March, powered by a raft of global
stimulus and tentative signs the pandemic was peaking in the
worst hit parts of the continent.
Lifting the mood further on Friday, a report detailed
encouraging partial data from trials of U.S. drugmaker Gilead
Sciences Inc's experimental drug remdesivir in severe COVID-19
patients. Nokia NOKIA.HE jumped 4% on a report that it was working
with an investment bank to defend itself from a hostile
takeover.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.