European stocks rise, Asian stocks lag on US Fed’s commitment
- 08 Apr 2021
Gulf Today Report
European stocks jumped on Thursday on hope for a global economic recovery led by the stimulus after US Federal Reserve.
The pan-European STOXX 600 rose 0.5% by 07:20 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.
Fed officials are committed to supporting the pandemic-hit economy until its recovery is more secure, according to minutes from a meeting.
Investors broadly looked past news that several European countries had announced restrictions on the use of the AstraZeneca COVID-19 vaccine in younger people after a link was found to very rare blood clots.
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Asian stocks
Asian markets trudged on Thursday after US stock futures reached new peaks following the US Federal Reserve’s declaration.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.2% in very quiet trade. Moves were modest across the region with Chinese blue chips up 0.1% and South Korea dead flat.
According to the minutes of the US Federal Reserve's last policy meeting, the economy is far from the forecasted target, therefore the Feds are in no rush to scale back their $120 billion a month of bond buying.
