European shares edge up to record high as new coronavirus cases drop
- European shares hit a record high for the second straight session on Wednesday, as a drop in new coronavirus cases prompted buying in China-focused stocks, even as investors remained wary of the epidemic’s economic impact.
“There is a risk-on-and-on-and-on sentiment at this moment... Markets have swallowed the coronavirus issue with ease and have just continued buying,” said Teeuwe Mevissen, senior market economist at Rabobank in Amsterdam. However, U.S. Federal Reserve Chair Jerome Powell warned that the virus outbreak may have some impact on the U.S. economy.
Among individual movers, Swedish casino software developer Evolution Gaming AG topped the STOXX 600 with a 10% gain after its fourth-quarter revenue and core earnings surged.
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