EU spending plans fuel further gains in global stocks
Global equities have gained further momentum as governments prepare to intensify their spending to prop up economies after the Covid-19 blow. Major European markets including those in London, Paris and Frankfurt roared around 1.5 per cent higher on Wednesday, while the region-wide Stoxx 600 index rose 0.7 per cent. Futures tracking Wall Street’s S&P 500 were also up, climbing 1.2 per cent. Markets have marched higher in recent weeks as economies around the world have begun easing lockdowns, with investors pinning their hopes on a swift rebound in business and industrial activity.