World markets rally as US agrees $2 trillion stimulus package
After earlier strong gains, European shares were mixed today after an enormous $2 trillion US stimulus package and evidence of moves by companies to deal with the financial effects of the Covid-19~crisis failed to offset the impact on markets of a surge in cases around the world.
After jumping as much as 5.1% in earlier trade, London’s FTSE index had gained 0.5% by lunchtime.
The Paris CAC was up 0.7%, but the Frankfurt DAX was down 1.6%. Markets in Paris and Frankfurt had traded over 4% higher earlier this morning.
Dublin’s ISEQ index was up 1.4% this lunchtime after gaining as much as 5% in earlier trade. Shares in Dalata Hotel Group had jumped over 12%, while ICG sailed 7.4% higher.
The Irish banks also managed to make back some of their recent losses.
Asian markets also soared in earlier trade after US lawmakers agreed that massive stimulus package to support the world’s number one economy as the coronavirus spreads.
Tokyo’s Nikkei index surged 8% while the Hang Seng index in Hong Kong closed with gains of 3.8%.
Wall Street posted its best performance in nearly 90 years last night, as indices rallied on hopes that lawmakers would agree on a massive $2 trillion stimulus package to blunt the coronavirus’ economic impact.
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