Dow rallies more than 500 points for a second day, closes above 25,000 for first time since March; European markets close higher after unveiling of EU’s recovery plan; Renault shares rise 17%; BELEX15 ended Wednesday with no changes; NIS expects 2Q20 to be ended with poor performances
Stocks rose for a second day on Wednesday as Wall Street grew more optimistic about the economy reopening.  Shares of companies that benefit from the economic restart led the way. The Dow Jones Industrial Average jumped 553.16 points, or 2.2%, to 25,548.27. The 30-stock average also closed above 25,000 for the first time since March.
Stocks that benefited from people staying at home struggled on Wednesday as investors rotated out of those names. Zoom Video dropped 1.2%. Shopify, Amazon and Teladoc Health fell 2.3%, 0.6% and 1.1%, respectively.

European stocks closed higher Wednesday, following the unveiling of a huge coronavirus recovery package from the EU. The pan-European Stoxx 600 index finished 0.2% higher with strong gains for the major bourses in Germany, France and the U.K. Bank stocks rising almost 4% to lead gains while health shares declined 2.5% to lead the losses.
Investors digested the European Commission’s plan for a 750 billion euro ($826.5 billion) recovery fund, as the region faces its worst economic crisis since the 1930s.
In corporate news, Renault and Nissan on Wednesday announced plans to revamp their fragile alliance in order to slash costs and survive. The announcement drove Renault shares over 17% higher.

BELEX15 was with no changes as solid 9% gain at Energoprojekt was annualized by 35 drop at Belgrade Airport. The most traded name was Impol with RSD 9.4m, while it was followed by NIS with RSD 2.3m in volume. NIS issued a statement in a written form where it was said that second quarter will also face poor performances due to covid crisis, low oil price and lower consumption & overall market disruption. The stock was up 1.53%.
Source: CNBC, Ilirika