LONDON, April 27 — European stock markets jumped in early trading today as countries eased lockdown measures and the Bank of Japan unveiled further support for its virus-hit economy.
London won 1.7 per cent, Frankfurt rallied 2.5 per cent, Paris gained 1.9 per cent, Milan advanced 2.3 per cent and Madrid 1.9 per cent.
“No Monday morning blues for equities after the Bank of Japan announced more stimulus and we’ve some good news from Italy at last and even Deutsche Bank has reported a profit,” noted Neil Wilson, chief market analyst for Markets.com.
Tokyo’s benchmark Nikkei index closed up 2.7 per cent today after the Bank of Japan ramped up its emergency monetary easing for the world’s third largest economy.
It comes as Spanish children have ventured outside for the first time in weeks, while Italy and New York laid out partial reopening plans as marked decreases in deaths from Covid-19 stirred hopes.
On the corporate front, Germany’s biggest lender Deutsche Bank said it expects to report a net profit of €66 million (RM311 million) for the first quarter, beating market forecasts.
The German group lost €5.72 billion in 2019, its fifth consecutive net loss, and in July announced a major restructuring plan. — AFP
