European shares rise 2% on stimulus hopes

  • Reuters
  • Stock Market News
European shares rise 2% on stimulus hopes
Credit: © Reuters.

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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. 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. NV QIA.DE soared 20% to the top of STOXX 600 after U.S. firm Thermo Fisher Scientific (NYSE: TMO ) TMO.N launched a 10.4 billion euro ($11.6 billion) bid for the German genetic testing company.

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