Tuesday, 07 July 2020
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European stocks close higher; US jobless claims balloon to record high
Friday, 27 March 2020 00:14 WIB | MARKET UPDATE |Saham Eropa

European markets closed higher Thursday after U.S. jobless claims ballooned to a record high amid the fallout from the coronavirus pandemic.

The pan-European Stoxx 600 closed up 1.8%, reversing earlier losses, with travel and leisure stocks climbing almost 6% and autos slipping marginally into negative territory.

U.S. jobless claims skyrocketed to 3.28 million last week, according to initial figures released Thursday, as widespread shutdowns resulting from the coronavirus outbreak begin to take their toll. However, markets did not react unfavorably, as investors seemingly bet on the unprecedented spike leading to further stimulus.

Source: CNBC

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