Shares in Europe and Asia advance, tracking an overnight surge on Wall Street as governments and central banks take more aggressive measures to fight the virus outbreak and its effects on the economy.
TOKYO — Shares in Europe and Asia advanced Thursday, tracking an overnight surge on Wall Street as governments and central banks take more aggressive measures to fight the virus outbreak and its effects on the economy.France’s CAC 40 added 0.5% in early trading to 5,490.52, while Germany’s DAX was up nearly 0.6% to 12,194.33. Britain’s FTSE 100 inched up 0.2% to 6,830.92.
The rally’s momentum accelerated around midday after House and Senate leadership reached a deal on a bipartisan $8.3 billion bill to battle the coronavirus outbreak. The measure’s funds would go toward research into a vaccine, improved tests and drugs to treat infected people. Investors expect other central banks will follow up on the Federal Reserve’s surprise move Tuesday of slashing interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of the new coronavirus.
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