CNBC "European shares close 1.7%"

KEY POINTS BY CNBC

There are hopes in Europe that the rise in the number of new infections and deaths each day is starting to decline.
Markets in Europe also reacted to the news last night that U.K. Prime Minister Boris Johnson had been moved to intensive care as his coronavirus symptoms worsened.
A spokesman for the prime minister said he was getting “standard oxygen treatment” but didn’t require a ventilator or “non-invasive” respiratory support.

European shares close 1.7% higher on tentative hopes the coronavirus may have peaked; Cineworld soars 50%

European markets closed higher Tuesday as investors hoped that the region could be seeing a plateau in the corona-virus outbreak.

The pan-European Stoxx 600 closed up 1.7%, with travel and leisure stocks surging 6.2% to lead gains, as all major bourses finished in positive territory.

Markets in Europe were also reacting to news overnight that U.K. Prime Minister Boris Johnson had been moved to intensive care as his coronavirus symptoms worsened. Foreign Secretary Dominic Raab is temporarily taking over the prime minister’s duties while Johnson is hospitalized.

On Tuesday, a spokesman for the prime minister said he was still in intensive care and getting “standard oxygen treatment,” but has not required a ventilator or “non-invasive” respiratory support.

Despite the high-profile illness of Johnson, there are hopes in Europe that the rise in the number of new infections and deaths each day is starting to decline.

Meanwhile, euro zone finance ministers are meeting on Tuesday to discuss additional funding support for the 19-member currency bloc.

Full article available here:

https://www.cnbc.com/2020/04/07/european-markets-hope-for-coronavirus-recovery.html

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