European shares rise as hopes of recovery remain strong By Reuters

© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) – European shares opened higher on Wednesday, with hopes of a swift rebound from a coronavirus-led economic slump gaining traction even as curbs on movement in Beijing were put in place to contain a potential second wave of COVID-19 cases.

The pan-European STOXX 600 index () rose 0.4%, after logging its best day in nearly one month in the previous session on the U.S. Federal Reserve’s plan to start buying corporate bonds and a report the Trump administration was preparing a nearly $1 trillion infrastructure proposal.

Still, the advance was small as Beijing cancelled scores of domestic flights on Wednesday, ramping up attempts to contain a coronavirus outbreak that has triggered fears of renewed wider contagion.

Healthcare stocks () remained in focus for investors, boosting the STOXX 600 by the most, while the European travel & leisure sub-index () fell in early trading.

Among stocks, Lufthansa (DE:) rose 4.1% after German investor Heinz Hermann Thiele raised his stake in the company to more than 15% from 10%, he told newspaper Frankfurter Allgemeine Zeitung in an interview.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*