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European rout pauses as stimulus calms recession panic

Published 19/03/2020, 09:33
© Reuters.
LHAG
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EU50
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STOXX
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SXEP
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SX7P
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SXTP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 19 (Reuters) - European shares edged higher from
near-seven year lows on Thursday as another set of dramatic
stimulus measures by the bloc's central bank injected a ray of
hope around its preparedness to tackle a major health crisis
gripping the continent.
After volatile trading in Euro Stoxx 50 futures STXEc1
earlier in the day, the pan-European STOXX 600 index .STOXX
was up 0.5% at 0815 GMT, with almost all the major country
indexes trading higher.
The European Central Bank joined peers in Japan, Australia
and the United States in launching a fresh wave of emergency
stimulus to help businesses battered by a near halt in economic
activity from the coronavirus pandemic. MKTS/GLOB
Although banking .SX7P and oil and gas .SXEP stocks rose
in early trading, travel and leisure firms .SXTP fell another
3% on growing concerns of a complete collapse of the sector.
Germany's Lufthansa LHAG.DE said on Thursday the airline
industry may not survive without state aid if the virus outbreak
lasted for a long time.

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