Global markets gain over China trade data, easing pandemic restrictions

Analysts said the threat of a much deeper and prolonged downturn was starting to dissipate as new coronavirus cases declined in major economies
World stocks gained on Tuesday after Chinese trade data came in better than expected and some countries tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.

European stock markets opened stronger, with the pan-European STOXX 600 index rising 0.6 per cent to its highest since March 11.
Analysts said the threat of a much deeper and prolonged downturn was starting to dissipate as new coronavirus cases declined in major economies and a raft of monetary and fiscal stimulus took effect globally.

Spanish shares gained 1.5% as some businesses re-opened, although shops, bars and public spaces were set to stay closed until at least April 26.

"Although further slowdown in the pandemic's spreading may keep sentiment supported, we are still reluctant to trust a long-lasting recovery, and we prefer to take things day by day," said Charalambos Pissouros, analyst at JFD Group.


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel