European stocks were up slightly in early trading on 19 March 2020, as investors took heart from efforts by officials in the United States and Europe to shore up the world economy.

 

London’s FTSE 100 index opened up 0.2 percent. In Germany, the DAX index was up 0.5 percent. Stocks in France rose more than 2 percent in early trading.

Other indicators suggested that unease lingered. Futures markets indicated that Wall Street would open modestly lower. The market moves came after yet another dismal day on Wall Street, where markets fell 5 percent on 18 March 2020.

Investors were dealing with a flurry of news, sending mixed signals. Overnight, the European Central Bank unveiled a huge bond-buying program. U.S. officials also neared passage of stimulus efforts to keep the American economy running.

Oil prices climbed after cratering on 18 March 2020, with the price of benchmark crude rising more than 12 percent.

Bond prices rose, sending yields on the 10-year U.S. Treasury bond lower. The rise may signal that investors are looking to park their money in places normally considered safe, but it also suggests that investors are putting efforts to liquidate their investments and keep their money in cash on hold.

In Asia on 19 March 2020, Tokyo’s Nikkei 225 index fell 1 percent. In China, the Shanghai Composite Index was also down 1 percent.

Hong Kong Hang Seng Index fell 2.6 percent.

South Korea was the biggest loser among major world markets, with the Kospi index falling 8.4 percent.

Source: https://www.nytimes.com/

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