European
shares rose during Wednesday's trading, continuing to recover from full-week
losses that pushed markets to a seven-year low, as investors' appetite for risk
increased in the hope of a return to stability due to recent U.S. $2 trillion stimulus.
As
of 08:05 GMT, the Euro STOXX 600 surged
3.36 percent to 331.26, while recorded its strongest session since late 2008
during yesterday's trading after earning more than 8 percent.
France
CAC 40 was 2.29 percent up at 4,324.01, and Germany’s DAX ascended 2.62 percent
to 9,930. In Britain, FTSE 100 increased by 2.65 percent to 5,460.50.
The
positive performance of European markets coincided with reports that Democrats
and Republicans were close to completing a $2 trillion stimulus package to
reduce the economic damage caused by the Coronavirus pandemic.
The
legislation, which is expected to be enacted within days, is the biggest
economic stimulus package in modern American history.
In
addition, the Fed's decision on the unlimited asset purchase program, as well
as other measures to support the economy and credit markets managed to boost
risk sentiment.
Trump
wants U.S. “opened up” by Easter, as New Yorkers are urged to self-quarantine.
The
World Health Organization (WHO) warned yesterday that corona is increasing in
frequency, with more than 390,000 cases globally increasing and more than
17,000 deaths, according to data from Johns Hopkins University.
Meanwhile,
the dollar index, which measures the performance of six major currencies
against the US dollar, slumped by 0.72 at 101.50.
As
for economic data revealed a slowdown in UK today, consumer prices retreated from
a six-month high recorded in January on cheaper petrol prices.
The consumer price
inflation index slowed to 1.7 percent in the year ended in February, in line
with expectations, down from a previous 1.8 percent, according to data from the
National Bureau of Statistics.