European stocks are trading higher driven by the US plan to shore up the economy against the coronavirus

The main European stock markets opened this Wednesday on the rise, fueled by the United States announcement of a $ 2 trillion financial aid plan facing the COVID-19 crisis.

At 10 GMT, the London FTSE 100 gained 3.5%, the CAC-40 in Paris 3.7% and the Dax 30 in Frankfurt 3.3%, the IBEX 35 Madrid, 4.4% and the FTSE MIB of Milan, a 3.4%.

The index Euro Stoxx 50 – which integrates the fifty most capitalized companies in the euro area- up 3.6%.

The price of euro rose slightly, 0.2%, to $ 1.0807, while the benchmark ten-year European bond, the “bund”, increased its profitability by one hundredth, down to -0.315%.

Although the small rise in the futures on the US indices, around 1%, limited the advance of the European squares at that time, they took advantage of the fact that Wall Street had posted its biggest gain since 1993 on Tuesday with the Dow Jones Industrials Index gaining 11.37%.

This positive start in Europe adds to the spectacular rise in the tokyo stock exchangewhose index Nikkei finished at + 8.04%, its highest percentage rise since October 2008.

Also in Asia, the stock market Hong Kong won on their side 3.81%, Shanghai 2.17% Y Shenzhen 2.92%.

Crude prices extended gains for the third consecutive session on Wednesday, along with the financial markets in general, in anticipation of the agreement reached in the United States on a massive package of aid to alleviate the economic impact of the coronavirus pandemic.

At 0917 GMT, WTI crude, a benchmark in the United States, rose 73 cents, or 3.04%, to $ 24.74 a barrel, after climbing to $ 25.24 earlier.

For its part, crude oil Brent was making 51 cents, or 1.88%, at $ 27.71 a barrel, after hitting a session high of $ 28.29.

Despite all this, the demand for petroleum products, especially jet fuel, is falling worldwide as more governments announce closures to contain the advance of the coronavirus, limiting the progress of crude oil.

Written by Argentina News

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