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European stocks traded higher in early action on Thursday as policymakers discuss how and when the global economy can reopen with data showing a slowing spread of the coronavirus.
The Stoxx Europe 600 SXXP, +1.71% rose 1.7%, and has climbed 13% over the last month.
U.S. stock futures ES00, +1.21% were higher as well.
The Dow Jones Industrial Average DJIA, +3.44% surged 779 points on Wednesday, on a combination of factors including the virus data, the discussions of re-opening the economy and the exit of Sen. Bernie Sanders from the presidential race. CNN reported that White House aides have begun intensive discussions on a plan to reopen the U.S. economy as soon as the start of May.
Governments in Europe also have been eyeing ways to end the lockdowns.
The global coronavirus new-case growth slowed to 6.1% from 6.3%, and the U.S. new-case growth dropped to 8.7% from 9.1%, according to data compiled by Deutsche Bank.
“Financial markets appear to be looking beyond the continued rise in both infection and death rates, and to when the various lockdown measures might well be eased. The risk is that they, and we, could be getting ahead of themselves, and teeing themselves up for disappointment later in the month,” said Michael Hewson, chief market analyst at CMC Markets UK.
The U.S. Senate on Thursday will attempt to add $250 billion to the small-business loan program, according to Politico.
UBS UBSG, +2.54% and Credit Suisse CSGN, +4.43% both decided to pay part of their 2019 dividends later in the year after receiving criticism from the Swiss Financial Market Supervisory Authority. Both banks rose by about 4%.
Diageo DGE, +3.33% rose 2.5% as the alcoholic beverage maker halted its stock buyback and withdrew its financial guidance but said it would go ahead with a dividend payment planned for April.
Just Eat Takeaway JET, +9.71% surged over 10% as the food delivery company’s Takeaway.com business said orders in most of its major markets, including the Netherlands, Germany and Poland, have recovered after an initial drop in mid-March.
Crude-oil futures CL.1, +5.34% rose as traders awaited the results of a video conference in which a production cut of 10 million to 15 million barrels a day could be announced.
