European shares gain on hopes of global COVID-19 recovery

01.06.2020 - Kulakov Vladimir
European shares gain on hopes of global COVID-19 recovery

European shares rose on Monday on the back of a global recovery from the COVID-19 outbreak. In addition, investors were relieved after the U.S.’ response to China’s security laws were not as severe as many had predicted.

U.S. President Donald Trump had commenced the ending of special treatment for Hong Kong to punish China. However, Trump did not specify further actions that could undermine the U.S.-China Phase One trade agreement.

The pan-European STOXX index gained 0.6%, closing in on its strongest level since March 9. Stocks from banks, miners, and travel & leisure companies led the rally.

Global markets started strong in June, with the STOXX index regaining nearly 31% of its lows from March. Hopes of a COVID-19 vaccine, easing quarantine measures, and expectations of more stimulus helped in improving risk appetite.

Investors will be eyeing a European Central Bank (ECB) meeting that is scheduled on Thursday, with an expectation that policymakers will ramp up its bond-buying program.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?