Global stocks going for the best month in decades
Stocks around the world are going for the best month on April 30. The successful new treatments of the antiviral drug as well as the expected reveal of a new stimulus package from the European Central Bank reinforce the optimism
European trading experienced a slow start, held back by negative news. Shell announced its first dividend cut in 80 years of its history. French GDP experienced a record reduction in Q1. Unemployment rates in Germany saw a noticeable increase.
Nevertheless, the easing of the lockdowns still drives the stocks up. The STOXX 600 index went up 25% in the last six weeks. This April is going to be the best month of European trading since at least 2009. MSCI World Index is headed for the best monthly results since the final years of 1980s.
Asia-Pacific is experiencing growth as well. MSCI’s index for the region is headed for a 5% growth this week - the best one this month. Nikkei climbed 2.8%, reaching the highest position in seven weeks. ASX 200 went up 2.7%. South Korea, meanwhile, reported that no new infection cases were registered since the February peak.
The optimistic sentiment was also reinforced by the reports of a new trials of Gilead’s remdesivir - the antiviral drug aimed at fighting the coronavirus. New tests showed positive results.