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European stocks close higher as US reaches stimulus deal; Virgin Money up 26%
Wednesday, 25 March 2020 23:50 WIB | MARKET UPDATE |Saham Eropa

European markets closed higher Wednesday, as investors remained attuned to the coronavirus pandemic.

The pan-European Stoxx 600 provisionally closed up more than 2.5%, with oil and gas stocks surging over 6% to lead gains while chemicals declined by more than 0.5%.

The European blue chip index had earlier racked gains of more than 4.5% at the start of trading after U.S. senators agreed to the Trump administration™s massive economic rescue bill, unlocking $2 trillion worth of funds.

In terms of individual stocks, Virgin Money U.K. shares jumped 26% while French insurer CNP Assurances added 20%. At the other end of the European blue chip index, British pest control group Rentokil tumbled 18% after withdrawing its 2020 guidance, suspending its dividend and announcing cost-cutting plans.

Source: CNBC

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