Wednesday, 22 Jul 2020 08:40 AM MYT
The pan-European STOXX 600 jumped as much as 1.3 per cent before ending 0.3 per cent higher at its highest since early March, as did an index of euro zone blue-chip stocks which rose 0.5 per cent. European Union leaders clinched a “historic” deal in the early hours of yesterday on a €750 billion recovery fund and its related €1.1 trillion budget for 2017-2021 that they hope will help repair the continent's deepest recession since World War Two.
Spain and Italy, among the south European countries set to benefit from the EU deal, saw their main indexes gain 0.2 per cent and 0.5 per cent respectively.Topping the STOXX 600 index was Adevinta which soared 26 per cent after US firm Ebay Inc agreed to sell its classified ads business to the Norwegian group in a deal worth US$9.2 billion.