· GLOBAL MARKETS-Shares gain as investors cheer EU stimulus deal, bet on vaccines
Asian shares hit a five-month high and European equity market futures extended gains on Tuesday after European Union leaders agreed on a massive stimulus plan for their coronavirus-blighted economies.
Hopes that vaccines against the COVID- disease might be ready by the end of year also supported riskier assets, following promising early data from trials of three potential vaccines. of the EU deal saw the euro EUR= rise to a fresh four-month high of before profit-taking pulled it lower.19$1.1470
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJPUS gained to its highest level since February.00001.9%
· Japan shares advance as COVID-19 vaccine trials bolster optimism
Japanese stocks rose on Tuesday as signs of progress in developing a COVID-19 vaccine boosted investor confidence about a recovery in the global economy.
The Nikkei index ended up 0.73% at 22,884.22, with the healthcare and technology sectors leading the advance.
Initial findings from trials of three potential COVID-19 vaccines have shown encouraging results, raising hopes for a medical solution to a global pandemic that has triggered a sharp recession and caused more than half a million deaths.
The broader Topix rose 0.36% to 1,582.74.
· China shares end higher, virus vaccine hopes boost healthcare stocks
China shares ended higher on Tuesday, lifted by healthcare stocks as global hopes for a coronavirus vaccine firmed, but profit-taking following the previous session’s rally checked gains.
At the close, the Shanghai Composite index was up 0.2% at 3,320.89, after flirting with small losses in the afternoon session. The index jumped 3.1% a day earlier.
· European markets open higher after EU leaders reach recovery fund deal
European stocks higher Tuesday after European Union (EU) leaders reached a deal on a 750 billion euro ($857 billion) recovery fund to help the region recover from the coronavirus crisis.
The pan-European Stoxx 600 climbed 1% at the start of trading, with tech stocks adding 2.1% to lead gains as all sectors and major bourses entered positive territory.
EU heads of state had been locked in talks since Friday morning to discuss the proposed recovery fund and the EU’s next budget, but there had been deep divisions over the size and composition of the fund. Early Tuesday morning, however, the leaders reached a breakthrough agreement.
· UBS posts fall in second-quarter profit as it warns of continued credit losses11%
UBS announced a net profit of $billion for the second quarter of , down from the same period last year ($billion) as the coronavirus pandemic weighed on earnings.1.23 202011% 1.4
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