Banks shine as European stock market rally resumes

By MG News | June 05, 2020 at 12:52 PM GMT+05:00

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June 5, 2020: European shares resumed their rally on Friday as a bumper stimulus from the European Central Bank fuelled hopes of a faster economic recovery, putting the main benchmarks on course for their best week in two months.

The pan-European STOXX 600 gained 1.2% by 0722 GMT, led by a 3% jump in bank stocks. Insurers, automakers and travel stocks also rose more than 2%.

Global equity markets have climbed strongly this week, with Wall Street indexes nearing record levels as investors focussed on re-opening of economies.

The STOXX 600 is about 15% below all-time highs but has recovered more than 37% from March lows as fresh stimulus plans for Europe spurred a move into economically sensitive cyclical sectors.

British Airways owner-IAG and EasyJet jumped nearly 9%, topping gains on the STOXX 600.

Reuters

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KSE100	131,048.49 45.64M	0.54% 704.46
ALLSHR	81,514.83 116.67M	0.61% 490.84
KSE30	40,134.93 25.53M	0.57% 226.67
KMI30	190,814.18 30.47M	0.67% 1279.18
KMIALLSHR	55,117.65 66.42M	0.61% 333.99
BKTi	35,073.24 3.46M	0.38% 132.50
OGTi	28,699.28 7.97M	1.43% 403.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,580.00	110,105.00 109,200.00	-705.00 -0.64%
BRENT CRUDE	68.64	69.00 68.41	-0.47 -0.68%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	109.20	110.00 108.25	1.70 1.58%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.01	67.50 66.78	-0.44 -0.65%
SUGAR #11 WORLD	15.56	15.97 15.44	-0.14 -0.89%