European Markets Pick Up Baton from Asia as Big Rally Spreads

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The FTSE in London is up 2.5% at the lunchtime trading mark, Paris’ CAC-40 index has actually climbed 2.6%, as well as Frankfurt’s DAX index is skyrocketing over 3%.

Elsewhere in the area, Hong Kong’s Hang Seng index was 2.3% higher, and also Shanghai’s Composite index had actually obtained 1.4%.

Oil markets are increasing, with U.S. unrefined trading at $37.72 per barrel, up 1.6%, while Brent crude oil is trading at $40.42 per barrel, up 1.7%

Elsewhere in the region, Hong Kong’s Hang Seng index was 2.3% higher, and Shanghai’s Composite index had gained 1.4%. The Sensex in Mumbai was up 1.1%, while Taiwan’s TSEC was 1.8% higher.

The rebound was sparked by Monday’s announcement by the U.S. Federal Reserve that it would begin buying individual corporate bonds as part of its efforts to help the overall U.S. economy recover from the COVID-19 lockdowns that ground all economic activity to a halt. The announcement sparked a late rally on Wall Street, which had lost ground over fears of a second wave of coronavirus infections.

Markets were also bolstered by the Bank of Japan’s decision to expand its corporate lending program and purchases of corporate bonds from about $700 billion to $1 trillion.

The Dow Jones, S&P 500 and NASDAQ continue to trend upward in futures trading Tuesday, indicating a positive opening for Wall Street.

Oil markets are rising, with U.S. crude trading at $37.72 per barrel, up 1.6%, while Brent crude oil is trading at $40.42 per barrel, up 1.7%

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