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European shares rise 2% on stimulus hopes

Published 03/03/2020, 04:29 PM
Updated 03/03/2020, 04:32 PM
European shares rise 2% on stimulus hopes
QIA
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STOXX
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SXFP
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SXIP
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SXTP
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HFGG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 3 (Reuters) - European shares rose on Tuesday, as
investors hoped major central banks and governments were inching
toward steps to counter the economic blow from the coronavirus
outbreak.
G7 central bank governors and finance ministers will hold a
conference call at 1200GMT to discuss measures to deal with the
outbreak, although a source at the group said it would not
detail any immediate fiscal or monetary steps to boost growth.
The pan-European STOXX 600 .STOXX rose 2% by 0814 GMT,
following a 5% jump for Wall Street indexes overnight.
All sub-sectors were up, with the battered travel & leisure
index .SXTP , financial services .SXFP and insurers .SXIP
leading the gains.
Among individual movers, German meal-kit delivery firm
HelloFresh HFGG.DE jumped 5.4% after forecasting growth in
2020 revenue and core profit.
Qiagen NV QIA.DE soared 20% to the top of STOXX 600 after
U.S. firm Thermo Fisher Scientific TMO.N launched a 10.4
billion euro ($11.6 billion) bid for the German genetic testing
company.

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