European stocks head for largest quarterly gain in 5 years

2020-06-30 13:07:43 GMT (Economies.com)
European stocks head for largest quarterly gain in 5 years

European stocks rose Tuesday, to extend gains for the second straight day, lifted by upbeat data from China that raised hopes about a quick global economic recovery, while heading for the largest quarterly gain in five years, thanks to the huge stimulus measures in the euro area, and the successful containment of the coronavirus pandemic in most of the European countries.

 

The Stoxx Europe 600 index rose 0.2% as of 11:35 GMT, after closing higher by 0.4% yesterday, following a strong recovery in Wall Street.

 

The pan European index opened higher today, to extend gains for the second straight day, with most European markets and sectors seeing green today.

 

The tech sector saw the largest gains in Europe today, with a rise by 1%, on global demand hopes.

 

Chinese data showed today that the manufacturing and services sectors grew more than expected in June, which raised hopes about a quick recovery by the global economy from the coronavirus pandemic

 

The Stoxx Europe index has gained more than 14% so far during the second quarter, to head for the largest quarterly gain since the first quarter of 2015.

 

This came thanks to the huge stimulus measures in the euro area to ease the coronavirus impact, the successful containment of the coronavirus pandemic in most of the European countries, and economies reopening.

 

S&P 500 futures rose more than 0.25%, after the index closed higher by 1.5% yesterday at Wall Street, on hopes over the US economic recovery and stimulus.

 

Back to Europe, the Euro Stoxx 50 index rose 0.3%, France's CAC 40 climbed 0.3%, Germany's DAX rose 0.7%.

 

While the UK's FTSE 100 fell 0.3%, due to concerns over PM Boris Johnson's plan for public spending in the UK.

 
 
 
  Symbol Last Change Chg.%
1.1758
0.0048
0.4108%
1.3073
0.0058
0.4460%
Tadawul
7459.21
4.14
0.06%
24.388
0.141
0.582%
41.015
0.580
1.434%
44.28
0.74
1.70%
1975.510
6.155
0.312%
 
 
US
 
Europe
 
Asia