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March 25 (Reuters) - European shares rose on Wednesday
following a strong rally in the previous session, as investors
bet on unprecedented stimulus measures to ease the economic pain
on businesses and households from the coronavirus pandemic.
The pan-European STOXX 600 index .STOXX was up 2.1% at
0804 GMT, with energy .SXEP , industrials .SXNP , financials
.SXFP and miners .SXPP leading gains for a second straight
day.
The benchmark index has now recovered its losses from mid
March on the back of extraordinary fiscal and monetary stimulus
from Europe and the United States. On Wednesday, U.S. officials
agreed on a whopping $2 trillion stimulus package. Still, the European bourse is down more than 25% from its
record high last month in the biggest rout since the financial
crisis, with another global recession looming in the face of a
collapse in business activity in March. German conglomerate Thyssenkrupp TKAG.DE rose 12.6% after
saying it would cut 3,000 jobs at its steel unit by 2026, with
no forced layoffs until March 31, 2026, as part of a wage deal
struck with powerful labour union IG Metall.