LONDON, March 20 — European stocks surged more than five per cent in opening trade today as investors welcomed a vast global fightback against coronavirus fallout.
In initial deals, London’s benchmark FTSE 100 index of major blue-chip companies rallied 5.2 per cent to 5,418.35 points, Frankfurt’s DAX leapt 6.5 per cent to 9,171.48 and the Paris CAC 40 soared 5.5 per cent to 4,068.45 points.
“European markets traded higher again Friday as the first tentative signs of stabilisation are built,” said Markets.com analyst Neil Wilson.
“The full extent of the economic damage remains unknown, yet markets tend to move ahead of the real world.”
Asian equities also enjoyed some much-needed gains today after another volatile week as investors took solace in global efforts to fight Covid-19. — AFP
