Banks shine as European stock market rally resumes

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

Add Mettisglobal as a Trusted Source on Google

0:00

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

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,765.22 212.46M	0.16% 266.28
ALLSHR	103,241.06 481.66M	0.13% 137.96
KSE30	50,813.89 65.25M	0.15% 74.20
KMI30	244,391.30 71.96M	0.08% 186.13
KMIALLSHR	66,928.26 309.74M	0.08% 55.24
BKTi	47,274.31 12.11M	0.30% 141.41
OGTi	35,009.43 4.22M	0.13% 46.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,050.00	85,730.00 84,230.00	140.00 0.16%
BRENT CRUDE	105.17	106.40 104.51	-1.43 -1.34%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	6.50 5.26%
ROTTERDAM COAL MONTHLY	137.10	0.00 0.00	-0.80 -0.58%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	92.72	94.75 92.14	-1.89 -2.00%
SUGAR #11 WORLD	18.71	18.75 18.43	0.10 0.54%