European stocks close higher as EU stimulus plan and U.S. jobs data outweigh China tensions

Thursday, 28 May 2020 23:25 WIB

Saham Eropa


European stocks rallied on Thursday as a massive EU stimulus plan and fresh U.S. unemployment data offset concerns over rising U.S.-China tensions.

The pan-European Stoxx 600 closed up by 1.8% provisionally, with most sectors and bourses in the black. Chemicals was the best-performing sector, jumping 2.6%.

Investors are keeping an eye on developments in an escalating war of words between the U.S. and China, with trade, the coronavirus pandemic and now Hong Kong a focus in the dispute.

Shares of Cineworld continued to rally on Thursday, jumping almost 22% after the cinema chain received a liquidity boost from lenders ahead of plans to reopen in July.

Luxembourg-based office space provider IWG climbed over 15% after a share offering.

At the bottom of the European blue chip index, British luxury car and airplane engine manufacturer Rolls-Royce fell by around 8% after investor AKO Capital dumped its stake in the company at a discount.

Source: CNBC


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