Financial Markets Daily Report29 setembre 2020
Investors traded in a risk-on mood in yesterday's session as European and U.S. stock markets regained some of their recent losses in a rally led by the financial sector.
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- Investors traded in a risk-on mood in yesterday's session as European and U.S. stock markets regained some of their recent losses in a rally led by the financial sector.
- European stocks had their best day since June and the Eurostoxx50 rose 2.7%. Meanwhile, the European Commission approved €87.5bn in financing under the SURE programme in the form of loans to EU countries to finance their short-term work schemes. Italy and Spain are set to receive low-interest loans of up €27.4bn and €21.3bn respectively.
- In the U.S., the S&P 500 gained 1.6% in a broad-based rally as chances of a stimulus deal in Congress edged higher. Investors remain cautious in light of Tuesday's presidential debate.
- Both the euro and the pound rose slightly, while the value of gold and the barrel of Brent rose 1.1% and 1.2% respectively.