European and Asian stocks rally on hope for coronavirus treatment

A historic contraction in China’s economy failed to halt a rally on Friday in European and Asian stocks as investors pinned their hopes on the emergence of a potential coronavirus treatment. Europe’s Stoxx 600 opened 2.7 per cent higher, with gains of 3.2 per cent for Frankfurt’s Dax 30 and Paris’s Cac 40. London’s FTSE 100 was up 2.5 per cent.

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