Equity markets climbed on Thursday as more businesses returned to work and as a 750-billion-euro stimulus plan in Europe lifted regional stock indices and the euro, but gold rebounded on deteriorating U.S.-China relations.
Oil prices were flat to slightly lower as the market awaited confirmation of industry data that on Wednesday showed a surprise increase in U.S. crude stocks, which offset hopes for a demand recovery as coronavirus-linked lockdowns ease.
Gold jumped 1% on safe-haven demand as a U.S.-Sino rift deepened over further moves by Beijing to impose a national security law on Hong Kong. But equity and bond markets largely ignored the standoff.
In Europe, the pan-regional STOXX 600 index rose 1.42% to a fresh 11-week high on the European Union’s plan to prop up the bloc’s coronavirus-hit economies with the 750 billion euro recovery fund.
The euro rose 0.4% to $1.1047, a two-month high. The dollar index fell 0.248%.
Stocks on Wall Street rose, though less than Europe.
Benchmark 10-year notes rose 1.1 basis points to yield 0.6868%.
U.S. crude fell 0.98% to $32.49 per barrel and Brent was at $34.38, down 1.04%.