LONDON - European stock markets and oil prices surged Tuesday and most Asian indices finished higher after Wall Street rocketed, fuelled by hopes of a concerted global response to the deadly coronavirus.Pledges of action from central banks and a planned conference call between Group of Seven financial chiefs provided a much-needed boost after last week's hammering to equities that saw major global stock markets lose around 12 percent in value.
On stock markets, Shanghai and Sydney closed up 0.7 percent, while Seoul put on 0.6 percent. Tokyo, however, fell 1.2 percent. After last week's rout, investors returned to buying as central banks from the US, Japan and Europe said they were ready to provide support with monetary easing such as interest rate cuts and cash injections to financial markets.
"The Bank of England's role is to help UK businesses and households manage through an economic shock that could prove large but will ultimately be temporary," Carney said.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ABSCBNNews - 🏆 5. / 83 Read more »