Global stock markets were steady on Thursday as investors balanced hopes for new financial aid against more evidence of the economic devastation wrought by the pandemic lockdown. The price of oil recovered further after a spectacular crash this week.
The US House was expected to vote on Thursday on a $483 billion proposal to deliver more loans to small businesses and aid to hospitals after the Senate approved it on Tuesday. EU leaders, meanwhile, were expected to approve Thursday a financial aid package worth 540 billion euros (USD 587 billion).
After Asian markets largely closed higher, France’s CAC 40 stock index rose 0.4%to 4,428. Germany’s DAX fell 0.2% to 10,399 and Britain’s FTSE 100 was flat at 5,768. U.S. Shares appeared set for a quiet open, with Dow industrials futures down 0.2% and S&P 500 futures steady.
The new aid packages in the US and Europe would come on top of huge amounts of existing financial support.