March 19, 2020 / 8:35 AM / 17 days ago

European rout pauses as stimulus calms recession panic

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

March 19 (Reuters) - European shares edged higher from near-seven year lows on Thursday as another set of dramatic stimulus measures by the bloc’s central bank injected a ray of hope around its preparedness to tackle a major health crisis gripping the continent.

After volatile trading in Euro Stoxx 50 futures earlier in the day, the pan-European STOXX 600 index was up 0.5% at 0815 GMT, with almost all the major country indexes trading higher.

The European Central Bank joined peers in Japan, Australia and the United States in launching a fresh wave of emergency stimulus to help businesses battered by a near halt in economic activity from the coronavirus pandemic.

Although banking and oil and gas stocks rose in early trading, travel and leisure firms fell another 3% on growing concerns of a complete collapse of the sector.

Germany’s Lufthansa said on Thursday the airline industry may not survive without state aid if the virus outbreak lasted for a long time. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below