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

European shares trudge higher as stimulus wave stems selloff

Published 03/24/2020, 04:20 PM
Updated 03/24/2020, 04:30 PM
© Reuters.
BIOX
-
STOXX
-
SXIP
-
SXPP
-
SXTP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 24 (Reuters) - European shares attempted another
rebound on Tuesday after slumping in the previous session, as a
fresh round of monetary and fiscal stimulus offered some relief
even as the coronavirus pandemic spreads rapidly across the
globe.
The pan-European STOXX 600 index .STOXX was up 3% at 0802
GMT, but still set for its worst month since 1987 as the health
crisis threatened to crimp global growth, with some analysts
seeing a 24% fall in European GDP in the second quarter.
Although investors have largely shrugged off macroeconomic
data so far, all eyes will now be on a flash reading of activity
surveys from the euro zone due later in the day for signs of the
extent of the economic damage from the outbreak. Travel and leisure stocks .SXTP , which have posted some of
the heaviest losses this month, were up 2.6% in early trading.
Miners .SXPP , insurers .SXIP and oil and gas stocks
.SEXP were the biggest gainers among the major European
subsectors, rising between 5% and 6%.
France's Biomérieux BIOX.PA jumped 30% after the
healthcare company won approval from the U.S. Food and Drug
Administration for its product aimed at testing for coronavirus.

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.