US, WASHINGTON (ORDO NEWS) — The stock markets of Western Europe are growing, investors have focused on the plans of the authorities of some European countries to gradually remove restrictions imposed in connection with the coronavirus pandemic.
The market was supported by news that the drug developed by Gilead Sciences is undergoing successful trials in the fight against coronavirus infection. Researchers at the University of Chicago Medical Center reported a “quick recovery” of 125 patients with COVID-19 taking the experimental drug remdesivir, media reported.
The Danish authorities plan to remove a number of restrictions previously imposed in the fight against the spread of coronavirus, European media reported. Starting April 20, small businesses such as hairdressers, beauty salons, and driving schools will be allowed to resume work.
This week, students up to grade 5 and preschoolers in Denmark were allowed to resume attending classes. Students over 11-12 years old continue to study remotely.
Meanwhile, German Chancellor Angela Merkel said on the eve that the country is preparing to gradually remove restrictions on public life imposed due to the coronavirus pandemic.
Investors do not seem to have responded to statistics on China’s declining GDP.
Chinese GDP collapsed in the first quarter of 2020 by 6.8% in annual terms – this is the first decline in the PRC economy since the publication of quarterly GDP data by the State Statistical Office (GSO) in 1992.
The sharp recession reflects the severe damage caused to the Chinese economy by the outbreak of coronavirus infection COVID-19 and restrictions imposed by the country’s authorities to curb its spread.
The composite index of the largest enterprises in the Stoxx Europe 600 region by 11:24 Moscow time rose by 2.61% and amounted to 333.41 points.
The British FTSE 100 indicator grew by 2.63%, the German DAX – by 3.22%, the French CAC 40 – by 3.5%, the Italian FTSE MIB – by 2.26%, the Spanish IBEX 35 – by 2.47%.
The growth leaders in the Stoxx Europe 600 index are Cineworld Group shares, which are up 18.2%.
Shares of Roche Holding strengthen by 1.4%. The Swiss pharmaceutical company reported that it is developing a new serological test for the detection of antibodies in the blood of patients infected with coronavirus infection.
Novartis shares added 1.6%, AstraZeneca – 2.3%, Sanofi – 2.2%, Novo Nordisk – 0.8%.
Shares in apparel manufacturers are also getting more expensive: H&M is up 6.2%, Hugo Boss is up 6.1%, and LVMH is up 4.9%.
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