European shares gained on Thursday, caused by a bounce in energy stocks as investors pin hope on a deal between Saudi Arabia and Russia regarding their oil price war.
The pan-European STOXX 600 gained 0.3%. The energy sector .SXEP hiked 4.4%, with Royal Dutch Shell, BP, and Total SA contributing to the gain. However, the increase was cut by a 1% fall in travel & leisure stocks, financial services, and utilities.
Investors have closely monitored corporate damage amid the crisis and the release of stimulus measures to ease the impact on the economy. The STOXX has declined over 25% from its record high despite last week’s bounce.
U.S. jobless claims are estimated to have increased up to 3.5 million at the end of March 28, as President Donald Trump warned of more economic trouble to come.
World stocks steadied on Thursday as weak factory activity threatened to cut into global growth forecasts. Analysts estimate a $6 trillion loss in economic output for the first half of 2020.
Germany and Italy have extended their lockdowns as a way to contain the virus. Experts anticipate another earnings recession in 2020, with firms holding back estimates before the reporting season.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...