Asia shares hit seven-week high, oil rallies as economies slowly re-open [Reuters]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Reuters
Asia shares hit seven-week high, oil rallies as economies slowly re-open SYDNEY (Reuters) - Asian shares climbed to a near two-month peak on Wednesday as investors took heart from easing coronavirus lockdowns in some parts of the world, better-than-expected corporate earnings and a welcome rebound in oil prices. Futures pointed to a strong start for Europe and Wall Street with E-Minis for the S&P 500 ESc1 up more than 1% helped by forecast beating revenues from Alphabet Inc’s Google ( GOOGL.O ). Eurostoxx 50 futures STXEc1 added 0.4% while futures for Germany’s Dax index FDXc1 and those for London’s FTSE FFIc1 were each 0.7% higher. Risk assets including equities have rallied for most of this month thanks to heavy doses of fiscal and monetary policy stimulus around the globe aimed at softening the economic blow from the COVID-19 pandemic. Positive news around potential treatments for the infection as well as progress in developing a vaccine have also boosted sentiment recently. More
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