Stocks rise to their session highs, with the Dow up more than 500 points; European markets close under pressure as U.S. stimulus fears weigh; BELEX15 flat; EC Adopts Investment Plan for Western Balkans Worth EUR 9 Billion
U.S. stocks rose on Wednesday after President Donald Trump tweeted support for aid to airlines and other stimulus measures, stoking hope that a smaller aid package could be passed by lawmakers. The Dow Jones Industrial Average traded 544 points higher, or nearly 2%. The S&P 500 climbed 1.8%, while the Nasdaq Composite advanced 1.9%.
Shares of United Airlines gained more than 4%. Delta gained 3.3%. Airline stocks also got a boost after a JPMorgan analyst upgraded several companies in the industry. Boeing shares were up 3%.
European stocks closed lower on Wednesday as investors digested President Trump’s decision to halt stimulus talks until after the November election.
The pan-European Stoxx 600 ended just over 0.1% lower as equities in the region struggled for direction. Mining stocks were the top performers, adding 1.7%, while the telecoms stocks sank 1.5% to lead losses.
BELEX15 was flat as major names were with no material changes. The most active was heating devices manufacturer Alfa Plam, with RSD 9.4m in volume.
The European Commission has adopted an economic and investment plan for the Western Balkans worth EUR 9 billion, which should help the region harmonize the economies with the Union's economy and create stronger regional bonds. The Commission obliges to provide EUR 9 billion from the IPA funds between 2021 and 2027 for the economic harmonization of the region with the EU.
Source: CNBC, Ilirika