Markets growing following first optimistic projections
Global stocks saw some small gains on April 29. The traders were reassured by the planned easing of the containment measures around the world, as well as crude oil going back up.
MSCI world index gained 0.2%, driven up by a mostly productive trading in Asia and Europe.
Euro STOXX 600 broadset index earned 0.1%. One of the most important drivers was the Volkswagen’s statement. The company is confident, that it will see a profit in 2020 despite the drop in the first quarter. Daimler is counting to receive an operating profit, mostly created by Mercedes and Bans divisions. The growth has been held back by the major pharmaceutical companies, such as Roche - that experienced a 2% drop - and Novartis, that fell 0.6%.
More risky assets - equities included - including equities have been on the rise for most of April. The dynamic has been reinforced by strong stimulus packages that were introduced to cushion the impact of the coronavirus on the economy.
Despite the overall positive developments, European Q1 results are still getting worse. According to the Refinitiv data, the STOXX 600 listed companies saw a 40.4% drop in earnings. Last week the figure was 37%.