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(Sharecast News) - Stocks on the Continent are staging a bounce after US officials promised to ramp up spending to help prop up the economy, alongside a further decline in new coronavirus cases in the People's Republic of China and new containment measures in Italy and Spain.
There was also ongoing speculation that central banks around the world would step up the plate, with many analysts holding out the possibility that the Federal Reserve, for one, might be set to lower official short-term interest rates to zero by year-end 2020.
On that note, CMC Markets UK's chief market analyst, Michael Hewson, said: "The larger question is not only whether today's rebound can stick, but whether policymakers can deliver, on that the jury remains out."
As of 1100 GMT, the pan-European Stoxx 600 was 2.82% higher to 349.08, alongside a 3.11% rise for the Cac-40 to 4,854.94, while the FTSE Mibtel was adding 1.44% to 18,733.14.
Helping to steady sentiment, front month Brent crude oil futures appeared to be rallying, advancing by 9.53% to $37.98 a barrel on the ICE.
Volatility was also lower, with the VStoxx gauge of volatility for the Euro Stoxx 50 coming off the boil and standing down 12.01% at 47.35.
Oil & Gas stocks were bouncing alongside, with the Stoxx 600 sector gauge adding 6.46% to 217.56, with Travel & Leisure issues up 3.64% and Banks adding 4.55%.
Pacing gains at the individual company level on the Stoxx 600 were shares of Tullow Oil, Italian biotechnology diagnostic group DiaSorin SpA, TUI AG, Shell, Commerzbank, Bank of Ireland and StanChart.
Overnight, the number of new confirmed virus cases in China slipped from 46 on Monday to 45, amid a much publicised visit by President Xi Jinping the epicentre of the outbreak, in Wuhan.
In Italy meanwhile, authorities moved to a country-wide lockdown and in Spain a lockdown was announced in Madrid and the northern province of La Rioja.
19 Oct 2023 15:46
UK earnings, trading statements calendar - next 7 days
| Friday 20 October | |
| Foxtons Group PLC | Trading Statement |
| InterContinental Hotels Group PLC | Trading Statement |
| Record PLC | Trading Statement |
| Monday 23 October | |
| Shanta Gold Ltd | Trading Statement |
| South32 Ltd | Trading Statement |
| Tuesday 24 October | |
| Angling Direct PLC | Half Year Results |
| Anglo American PLC | Trading Statement |
| Barclays PLC | Q3 Results |
| Bunzl PLC | Trading Statement |
| FD Technologies PLC | Half Year Results |
| Gattaca PLC | Full Year Results |
| Petra Diamonds Ltd | Q1 Results |
| Scancell Holdings PLC | Full Year Results |
| Softcat PLC | Full Year Results |
| Travis Perkins PLC | Trading Statement |
| Trifast PLC | Trading Statement |
| WAG Payment Solutions PLC | Trading Statement |
| Wednesday 25 October | |
| Asos PLC | Full Year Results |
| Bytes Technology Group PLC | Half Year Results |
| Critical Mineral Resources PLC | Trading Statement |
| Ecora Resources PLC | Trading Statement |
| Fresnillo PLC | Trading Statement |
| Ibstock PLC | Trading Statement |
| Lloyds Banking Group PLC | Trading Statement |
| Reckitt Benckiser Group PLC | Trading Statement |
| RWS Holdings PLC | Trading Statement |
| ScS Group PLC | Full Year Results |
| Virgin Wines UK PLC | Full Year Results |
| Thursday 26 October | |
| Bank of Ireland Group PLC | Trading Statement |
| Bloomsbury Publishing PLC | Half Year Results |
| Botswana Diamonds PLC | Trading Statement |
| C&C Group PLC | Half Year Results |
| e-Therapeutics PLC | Half Year Results |
| Financials Acquisition Corp | Trading Statement |
| GCP Infrastructure Investments Ltd | Trading Statement |
| HarbourVest Global Private Equity Ltd | Half Year Results |
| Hummingbird Resources PLC | Trading Statement |
| Hunting PLC | Trading Statement |
| Inchcape PLC | Trading Statement |
| International Personal Finance PLC | Trading Statement |
| PPHE Hotel Group Ltd | Trading Statement |
| Renishaw PLC | Trading Statement |
| Standard Chartered PLC | Q3 Results |
| Unilever PLC | Trading Statement |
| WPP PLC | Trading Statement |
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