Nasdaq Composite climbs more than 1% to turn positive for the year, Dow jumps 200 points; European markets close higher as coronavirus crisis remains in focus; BOE holds rates; BELEX15 down 0.38% on record low trade volume; NBS key policy rate kept at 1.5%
The Nasdaq Composite rose on Thursday, clawing back its steep losses for the year, as tech shares added to their recent strong gains while investors mounted bets on the U.S. economy reopening soon. The tech-heavy index traded 1.4% higher as Apple shares also gained 1%. Facebook, Amazon and Alphabet rose as well.
Thursday’s gains came even as another 3.17 million Americans filed for unemployment benefits last week, bringing the seven-week total to 33.5 million. But while jobless claims continue to rise, last week’s tally was the lowest since shortly after the coronavirus was declared a pandemic.
In corporate news, Peloton reported revenues surged 66% during its fiscal third quarter as more Americans bought fitness equipment for at-home use during the coronavirus pandemic. Critically, Peloton said it is seeing demand from new customers who’ve been inspired to buy one of its bikes amid the Covid-19 outbreak. Peloton shares rose more than 15%.

European stocks closed higher on Thursday as investors digested the latest news regarding the coronavirus outbreak and efforts to ease lockdown measures. The pan-European Stoxx 600 closed up by more than 1% provisionally, with most sectors and major bourses in positive territory. Retail stocks were the best performers, climbing over 3%.
German e-commerce company Zalando and biotech firm Morphosys saw their stock prices jump 11% and 10% respectively after posting strong first-quarter earnings.

BELEX15 was down 0.38% while trade volume was so miserable – only EUR 12k. The most traded were insurance company Dunav and Komercijana Banka. At its yesterdays, the NBS Executive Board voted to keep the key policy rate at 1.5%.
In making such decision, the Executive Board had in mind the undertaken monetary policy measures aimed at mitigating the economic fallout from the coronavirus (COVID-19), whose effects will be largely manifested with further resumption of economic activity, the NBS says.
Source: CNBC, Ilirika