BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rallied on Tuesday after major U.S. indexes jumped around 5 percent overnight in the wake of signals of support from the Federal Reserve, Bank of Japan, Bank of England and European Central Bank.
Federal Reserve chair Jerome H. Powell issued a short statement on Friday reaffirming that the U.S. central bank would use its tools and 'act as appropriate' to support the world's largest economy.
Bank of Japan Governor Haruhiko Kuroda pledged Monday that the central bank will make every effort to ensure stability in financial markets.
The European Central Bank said Monday that it 'stands ready to adjust all its instruments, as appropriate'.
Earlier today, the Reserve Bank of Australia has cut official interest rates to a new record low of 0.5 percent to support the economy amid the global coronavirus outbreak.
G7 finance ministers are due to take part in a conference call on the economic impact of the coronavirus later today.
The benchmark CAC 40 was up as much as 117 points, or 2.20 percent, at 5,451 after rising 0.4 percent in the previous session.
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