Stock markets rebounded from some of their recent huge losses on Friday, pushing further away from three-year lows as central banks and governments pledged masses of cash to reduce the economic impact of the coronavirus pandemic.
Investors in Asia were merely excited Us Financial market had not plunged again. South Korean shares bounced 7.4%, though that still left them down more than 11% for the week.
In Europe trading session,shares soared at the start of trading in Europe, with the pan-European STOXX 600 index jumping nearly 5%.
Britain’s FTSE 100 index rose 4%, Germany’s DAX 30 Index gained 6%, and France’s CAC 40 Index gained 5.86%. Spanish stocks Index was up 3.8% and Italian stocks Index gained 3%.
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The American trading session started on a bright note as the U.S. S&P 500 e-mini stock futures also pointed to a positive end to the week, adding 3.5%.
As the spread of the coronavirus brought much of the world to a standstill, nations have poured massive amounts of stimulus into their economies while central banks have flooded markets with cheap dollars to ease funding strains.
In commodities
Following an increase in energy prices on early on Friday supported by U.S. President suggesting he could intervene in the ongoing Saudi-Russia oil price war and by a flow of stimulus from governments to support their economies stricken by the coronavirus pandemic, oil prices resumed their slump on Friday.
At 4:23 a.m.Nigerian local time on Friday, WTI Crude was rising 2.97% at $26.62, and Brent Crude was up 3.40% on the day at $31.25. But by 5:00 pm Nigerian local time WTI had sank to $25.02, with Brent crude fell to $30.13.
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Gold spot prices on the rebound on Friday, paring some of the losses from the previous two sessions. The precious metal is down over 10% over the past fortnight trading at $1481.56 at 5.30 pm Nigerian local time.
