European stocks rally, Asian stocks jump ahead of UK’s budget

European stocks rally, Asian stocks jump ahead of UK’s budget

Picture used for illustrative purpose. File



Gulf Today Report 

European stocks jumped on Wednesday as Germany sets to relax coronavirus while investors await UK's new budget. 

 

The pan-European STOXX 600 index rose 0.7% by 0810 GMT, while the German DAX gained 0.9%, France's CAC 40 was up 0.8% and UK's FTSE 100 added 1%.

 

German Chancellor Angela Merkel agreed to the gradual ease of coronavirus restrictions.

 

Investors are keeping an eye on the UK as finance minister Rishi Sunak's budget includes jobs rescue plan that will aid the economy. 

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Asian stocks 

 

Asian stocks rose on Wednesday after a wobbly day on Wall Street. 

 

Hong Kong led the advance, gaining 2.4%. Tokyo, Seoul, Shanghai and Sydney also were higher. 

 

In Hong Kong, the Hang Seng rose to 29,792.81. Tokyo's Nikkei 225 index added 0.5% to 29,559.10, while