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Riku Tanaka
April 9 20:20

Global stocks see gains as trust solidifies that the pandemic has peaked

Stock markets worldwide rose on Thursday (Apr 9) piggybacking on faith that the COVID-19 pandemic is approaching its zenith. 
Stock markets in Europe gained for a fourth consecutive day, with interest focused around a meeting between European finance officials where they will be discussing the specifics of a Eurozone bailout.

The European STOXX 600 index gained 1.7%, with pummeled travel and liesure stocks, as automobile and mining organizations drove early gains.
MSCI's All-Country World Index, which tracks shares across 49 nations, was up 0.5% to its highest point since March 12.
U.S. stock futures were up 1% following a teeter on the brink of finishing positive in Asia.
As for Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.56%, after a solid Wall Street finish.
Stocks in China, where the COVID-19 first originated towards the end of 2019, rose 0.42%. Australian shares finished strong with a gain of 2.54%.
"Sentiment remains volatile, but investors appear to be looking through the growing headline numbers of COVID-19 cases and focusing on signs that the spread of the pandemic is being brought under control, which in turn is underpinning hopes for a relatively swift relaxation of containment measures," said Mark Haefele, chief investment officer at UBS Global Wealth Management.
Oil prices gained, riding on trust that top players in the industry would come into agreement to cut yield when they met later in the day (Apr 9) following a major drop worldwide oil demand.
US President Donald Trump said he hopes to restart the US economy with an "big bang" but the fatality rate from the coronavirus needs to drop first.
The S&P 500 increased 3.41% on Wednesday (Apr 8), bolstered by sentiment that the coronavirus pandemic was nearing its peak.
The Trump White House has asked legislators for an extra US$250 billion to help US SMEs. Be that as it may, congressional efforts showed signs of stalling as Democrats requested comparative aid measures that were needed for hospitals and local governments.
While Trump's positive thinking fed into Wall Street's rally, ongoing reports, data and predictions are only beginning to reveal the true economic damage in the nation.
McDonald's Corp said its global comparable sales plummeted 22.2% in March, while Starbucks Corp predict a 47% drop in Q2 sales.
Japan's Nikkei index didn’t go with the regional flow and fell 0.46% as coronavirus cases rose in the island nation. Markets also fluctuated after the prime minister's declaration of a state of emergency for Tokyo and other urban territories.
The coronavirus has spread quickly all over the globe, with over than 1.4 million reported cases and 87,500 fatalities, as indicated by a Reuters count.
Wuhan, the Chinese city where the new virus first started spreading in December of 2019, put an end to its two-month lockdown on Wednesday (Apr 8), however numerous nation around the world are still feeling apprehension regarding the infection and death rates.
The euro picked up against the dollar and the pound on hopes that the meeting between finance officials would result in financial stimulus for coronavirus-hit economies.