European markets gain; Dow futures rallies over 500 points

As per media reports, US senators agreed to the Trump administration’s massive economic rescue bill, unlocking $2 trillion worth of funds.

Mar 25, 2020 10:03 IST India Infoline News Service

European-Markets
European markets extended gain on Wednesday after the media reports said that US senators agreed to the Trump administration’s massive economic rescue bill, unlocking $2 trillion worth of funds.

The pan-European Stoxx 600 climbed 2.7%, with travel and leisure stocks surging 8.8% to lead gains as all sectors and major bourses entered positive territory.

Also, Dow Jones Industrial Average pointed to a gain of more than 500 points at the Wednesday open, while S&P 500 futures were up 1%. Nasdaq-100 futures were up 1.5%.

White House official, Eric Ueland said early on Wednesday that US senators and White House officials have reached an agreement on the massive stimulus package to mitigate the economic hit from the coronavirus outbreak.

Further, UK’s FTSE was up 1.56%, French CAC zoomed 2.07% and German DAX was also up 2.65%.

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