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European Stocks Trade Higher Following Asian Peers

European stocks extend gains on Friday as a wave of fiscal and monetary stimulus pushed investors to return to the stock markets after several days of sale-offs, triggered by signs of an approaching recession due to coronavirus.

easyjet shares surge europe gainsPhoto: Reuters

Recall, the European indexes finished the previous session in the positive territory, with the pan-European jumping by 2.91 percent, to 287,80 on Thursday, whereas on Friday the pan-regional indicator soared even higher by 4.36 percent, to 300,34 at 1032 GMT.

On Thursday, the ECB Chief said that the central bank is ready to boost the size of asset-purchase programs and change their composition with accordance of need and for as long as necessary. 

Moreover, the ECB will explore all opportunities and all emergency tools to support the economy through this stress. 

  • The DAX 30 added 2.00 percent, to 8,610;

  • The FTSE 100 rose by 1.40 percent, to 5,151;

  • The CAC 40 grew by 2.58 percent, to 3,885;

  • The FTSE MIB gained 2.29 percent, to 15,466;

  • The IBEX 35 advanced 1.93 percent, to 6,395 at 1045 GMT.

Tourism stocks unexpectedly surged by 9.4 percent, leading the gains among major European sub-sectors, while the energy index added only 6.59 percent amid recovery in oil prices.

Easyjet shares soared by 22.99 percent, IAG surged by 13.36 percent, Lufthansa rose by 5.84 percent.

Royal Dutch Shell grew by 8.49 percent, BP jumped by 6.13 percent, Tullow Oil gained 15.21 percent on Friday. 

Source: Tradingeconomics, Reuters


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