European stocks rebound as data point to slower virus growth and Fed chief expresses optimism over capabilities


European stocks surged into the open, data showing new cases of coronaviruses increasing at the slowest pace in months, while the head of the Federal Reserve said the US central bank had plenty of ammunition to fight economic crisis.
After a 3.8% drop last week, the Stoxx Europe 600
+ 1.95%

climbed 1.9%.

The German DAX
+ 2.79%

wins 2.5%, the French CAC 40
+ 2.28%

2.1% advanced and the British FTSE 100
+ 2.25%

The 0.9% growth in new global coronavirus cases was the first reading of less than 1% since February 24, and the 0.7% growth in deaths was the first less than 1% increase in the epidemic, according to data compiled by Deutsche Bank.

Federal Reserve Chairman Jerome Powell told the CBS 60 Minutes program that “we are not short of ammo” because he said the Fed could expand existing loan programs or launch new ones. Powell is appearing before the Senate Banking Committee on Tuesday.
In Europe, the Austrian, Belgian, Greek, French, Italian and Spanish securities regulators jointly decided to end their short selling bans that had been in place since mid-March.
Greece reopened the Acropolis in Athens while European ministers discussed whether to reopen their country to foreign visitors for the summer holidays.
Moving stocks, Swedish medical equipment maker Elekta
+ 11.96%

jumped 14% after GenesisCare in Australia ordered $ 200 million from its linear accelerators.
Paris Airports Actions
+ 8.31%

increased by 7%. The company reported a 99% drop in traffic for April.
Dow Jones Industrial Average futures rose more than 300 points and crude oil futures
+ 5.40%

climbed above the $ 30 mark.
The euro

changed little at $ 1.0809.


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