European bourses gather momentum on Trump’s restart plan

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European bourses gather momentum on Trump’s restart plan

On Friday, the 17th of April 2020, a basket of European bourses had winded up the day higher following US President’s Donald Trump’s strident sanguinities over a partial resumption of US economy before May 1st, while similar steps announced in a raft of European economic majors had added to investors’ optimism.

Apart from that, investors’ optimism also spurred up after the US pharmaceutical Gilead’s antiviral drug Remdesivir had shown positive results in treating critically ill pandemic patients in the United States.

Nonetheless, amid conflicting narratives on whether a resumption of global economy would be safer as early as by next month, the regional pan-European STOXX 600 had ended down Friday’s (April 17th) market 2.6 per cent higher, reporting the index’s second straight week of gains, while the index had also been in an affirmative territory in the past seven sessions out of eight over early signs that the pandemic outbreak might be easing in Europe.

Meanwhile, citing US President Donald Trump’s remark that the United States would reopen economy in some of its states as early as possible, a market strategist and managing director at Direxion in New York, Sylvia Jablonski said on Friday’s (April 17th) market wrap up, “President Trump coming out and saying the United States is probably going to open some of the country, it just seems like there’s sort of a step towards going back to normal.

” Citing statistics, on Friday’s (April 17th) European market closure, London’s FTSE 100 gained 2.82 per cent to 5,786.96, French CAC 40 climbed 3.42 per cent to 4,499.01, while Frankfurt’s DAX 30 jumped 3.15 per cent to round off Friday’s (April 17th) trading session at 10,625.78.

Elsewhere in the Europe, Madrid’s benchmark IBEX 35 rose by 1.66 per cent to 6,875.80, while Italy’s FTSE MIB added 1.71 per cent to 17,055.47 on Friday’s (April 17th) closing bell.