Fri. Apr 10th, 2020

Announcement of the end of quarantine in Wuhan pushes up European stock markets

The European stock markets they log in with sensible climbs after yesterday’s losses and after announce that the Chinese city of Wuhan, where the outbreak of coronavirus, will lift the quarantine on April 8.

At 09:30 hours, London gained 3.5%; Frankfurt, 5%; Paris, 4%; Milan, 4.8%; and Madrid, 3.2%. Previously, in Asia, Tokyo was up 7.13%. On Wall Street, the Dow Jones fell 3.04% yesterday.

According to analysts, the positive mood of investors is also being influenced by the decision of the US Federal Reserve. to expand the purchase of assets, a measure that yesterday contained the losses in the bags but could not avoid them.

Renta4 analysts believe investors miss global coordinated action like the one launched in the 2008 financial crisis.

In the oil market, prices are recovering: Brent, the benchmark crude in Europe, rises 2.5% and Texas, the benchmark in the US, does so by 4%.

The markets are currently awaiting the publication of the preliminary purchasing managers’ indices (PMI) for March of the US, the euro area and Japan, in which the impact derived from the expansion of the coronavirus should already be perceived. .

Will the economic effects of the coronavirus be worse than the disease?

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