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European shares climb as coronavirus cases slow

Published 07/04/2020, 08:29
Updated 07/04/2020, 08:30
ES35
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TCFP
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STOXX
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
April 7 (Reuters) - European shares rallied for a second
straight day on Tuesday, with investors focusing on early signs
that the coronavirus pandemic may be easing, even as major
companies still take steps to shore up cash after lockdowns
crushed global demand.
The pan-European STOXX 600 index .STOXX rose 2.7% at 0716
GMT - hitting its highest in almost a month, with governors of
several hard-hit U.S. states pointing to tentative signs the
outbreak might be starting to plateau. Spanish .IBEX stocks jumped 2.2% as coronavirus deaths
slowed for a fourth day on Monday, prompting the government to
contemplate a gradual easing of a nationwide lockdown.
The benchmark STOXX 600 index has now gained more than 22%
since hitting an eight-year low in March, but remains more than
24% below its February record high, when the worldwide spread of
the novel coronavirus sparked a virtual halt in business
activity.
France's Thales TCFP.PA on Tuesday became the latest major
company to slash its dividend and suspend profit forecasts, but
its shares rose 1.8% after it said it had signed a new 2 billion
euro ($2.17 billion) credit facility to shore up liquidity.

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