Key Points: Global markets are continuing the weigh up an economic recovery following the coronavirus pandemic.The ECB's PEPP expansion comes on top of an existing 750 billion of government bond purchases set out in March, bringing the total value of the central bank's asset purchase program to 1.35 trillion euros.
European stocks pared back early losses on Thursday afternoon after the European Central Bank (ECB) announced a 600 billion euro ($672 billion) expansion of its Pandemic Emergency Purchase Programme (PEPP).
The pan-European Stoxx 600 briefly turned positive following the ECB decision, before dropping 0.2% below the flatline. Chemicals stocks added 0.6% to lead gains, while autos fell by 1.2%.
The PEPP expansion comes on top of an existing 750 billion of government bond purchases set out in March, bringing the total value of asset purchases to 1.35 trillion euros in a bid to weather the euro zone's worst economic downturn since World War II.
Global markets are continuing the weigh up an economic recovery following the coronavirus pandemic. U.S. stocks surged Wednesday after a report from ADP showed private payrolls stateside falling by 2.76 million in May — much less than the 8.75 million expected from economists surveyed by Dow Jones. However, futures contracts tied to the major U.S. stock indexes idled during the overnight session Wednesday.
In Asia, stocks were mixed in Thursday afternoon trade as investors assessed the prospects of economic recovery from the coronavirus pandemic.
In the meantime, U.S. protests over the death of George Floyd, an unarmed black man, in police custody, continued although nationwide tensions appeared to ease Wednesday.
Thousands of demonstrators launched peaceful protests across the U.S. over the death of Floyd, though major cities plan to continue enacting earlier curfews and beef up law enforcement resources after days of violence.
Biggest movers
Remy Cointreau shares climbed 8.1% to lead the Stoxx 600 after its earnings report, in which the French spirits company forecast a strong rebound in the second half of the year.
At the other end of the European benchmark, British property developer Hammerson tumbled 15% as investors cashed in on a substantial rally in the first half of the week following the announcement that its flagship sites would reopen from June 15.
原文地址：https://www.cnbc.com/2020/06/04/european-markets-focus-on-us-unrest-and-global-economic-recovery.html