Global stocks gain on hopes pandemic is reaching peak
Hopes the global pandemic is nearing a peak gave investors a boost on Thursday (April 9).
European stock markets gained for a fourth straight day.
Investors were betting on governments rolling out further stimulus, with focus shifting to a meeting of EU finance ministers to discuss a rescue package.
The pan-European STOXX 600 index was up 1.7% in early trade.
Battered travel and leisure stocks, autos and miners led the early gains.
The benchmark index has rebounded more than 5% this week but is still about 24% below its record high.
Asian shares also rose.
MSCI's broadest index of Asia-Pacific shares outside Japan was up nearly a percent.
Japan's Nikkei bucked the trend and closed flat as infections in the country rose.
In the U.S., the New York Governor said the state's efforts at social distancing were working in getting the virus under control
But the number of U.S. jobless claims — the most timely data on economic health — likely totalled 15 million in the last three weeks.
And economists expect U.S. job losses of up to 20 million in April.
Oil and gas stocks bounced 1.9% ahead of a meeting of the world's largest oil producers to discuss production cuts.
With Royal Dutch Shell gaining more than 3 percent.
