European stocks continue rally thanks to incentive measures

US, WASHINGTON (ORDO NEWS) — European stocks continued to rise on Wednesday after the rally in the previous session, as investors hope that unprecedented incentive measures will mitigate the impact of the coronavirus outbreak on companies and the public.

The pan-European STOXX 600 index rose 3.1% to 11:39 UTC.

The index recovered losses in mid-March thanks to unprecedented fiscal and monetary stimulus measures in Europe and the United States.

US senators and presidential administration officials Donald Trump reached an agreement on a large-scale package of economic support measures designed to mitigate the effects of the outbreak of coronavirus, White House spokesman Eric Welland said Wednesday.

However, European stocks are still trading 25% below their all-time peak in February – the largest drop since the financial crisis.

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