European shares jump for second straight session on stimulus bump [Reuters]
AIR FRANCE-KLM ADS (AFLYY)
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Source: Reuters
European shares jump for second straight session on stimulus bump (Reuters) - European shares surged on Wednesday following a strong rally in the previous session, as investors bet on unprecedented stimulus measures to ease the economic pain on businesses and households from the coronavirus pandemic. The pan-European STOXX 600 index was up 4.2%, with energy .SXEP, autos .SXAP, insurers .SXIP and financials .SXFP jumping between 5.4% and 6.7%. With an 8% surge on Tuesday, swings last seen at the height of the 2008 financial crisis, the benchmark index has recovered its losses from mid March, but remains more than 25% below its record high last month. On Wednesday, U.S. officials reached a deal on a $2 trillion package to aid small businesses and Americans hit by layoffs due to the health crisis, but with growing evidence of a breakdown in economic activity, analysts said a global recession was looming. “It’s very good that authorities came up with monetary and fiscal co-ordination, but
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