Investor Strategy

European shares gain on hopes of easing in lockdown measures

imageStock Markets7 hours ago (Apr 22, 2020 03:25AM ET)

(C) Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) – European stock markets edged higher on Wednesday as Italy looked set to relax sweeping restrictions to contain the coronavirus, with investors remaining cautious about a swift recovery after more companies issued worrying financial forecasts.

The pan-European STOXX 600 index (STOXX) was up 0.8% at 0702 GMT, after tumbling more than 3% on Tuesday following a historic collapse in oil prices.

Italian shares (FTMIB) gained 0.9% as Prime Minister Giuseppe Conte said the country – one of the hardest hit in Europe – could start pulling out of strict stay-at-home orders from May 4.

Despite rebounding this month from March lows, the benchmark STOXX 600 remains about 24% below its February record high and analysts expect a corporate recession to deepen in 2020 as a near halt in business activity bites into company earnings.

Gucci-owner Kering (PA:PRTP) slumped 6.3% a day after saying sales were hit hard early in the coronavirus crisis due to the fashion group’s reliance on Chinese customers and that it was premature to say how quickly China sales would rebound.

Roche Holding AG (S:ROG) rose 2.1% as the Swiss drugmaker confirmed its 2020 sales and profit outlook amid rising demand for its new COVID-19 tests.

European shares gain on hopes of easing in lockdown measures

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top