Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
European stock markets gained for a fourth straight day, with investor attention also focused on a meeting of European Union finance ministers to discuss an economic rescue package.
Shares in China, where the novel coronavirus first emerged late last year, rose 0.42%. Australian shares were up 2.54%. New York Governor Andrew Cuomo said the state’s efforts at social distancing were working in getting the virus under control in one of the biggest hot spots in the United States. While Trump’s optimism helped stoke Wall Street’s rally, recent U.S. data and forecasts are only now beginning to reflect the economic damage.
The coronavirus has spread rapidly across the globe, infecting more than 1.4 million people and causing more than 87,500 deaths, according to a Reuters tally.
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