With economic stability being assured in the European Union amidst the Coronavirus global pandemic, will investors follow suit? Europe\u2019s leaders hope so.<\/p>\n
This as the region\u2019s stock markets reacted positively last week to the \u20ac750 billion landmark recovery deal.<\/p>\n
Among the gainers is Italy\u2019s FTSE MIB which ended on a high note at 0.49% higher after the announcement of the deal. \u00a0Spain\u2019s IBEX also reacted positively with a marginal 0.2% closing.<\/p>\n
Both Italy and Spain are among the most hard-hit countries in the EU and are likely to gain the most from the Coronavirus recovery plan.<\/p>\n
The highest gainer among the European markets last week was Germany\u2019s DAX which closed at 0.9%percent higher in the index, a report noted<\/a>.<\/p>\n Even London\u2019s FTSE 100 benefitted from the multi-billion euro recovery package scoring 34.42 points to 6,295.94 in the early hours of trading.<\/p>\n The region\u2019s currency, the Euro also was at its strongest against the US dollar since January 2019 as it rose to $1.1497 as the EU stimulus package announcement was made.<\/p>\n After four days and nights of tense and complex negotiations, EU leaders agreed on a historic plan<\/a> to jointly borrow \u20ac750 billion to respond to the pandemic.<\/p>\n The EU\u2019s pandemic recovery plan<\/a> is composed of \u20ac390 billion in the form of grants while \u20ac360 billion will be distributed in the form of loans.<\/p>\n The recovery package will be added to the \u20ac1.074 trillion budget of the 27-member countries bringing the total financial package to a whopping \u20ac1.82 trillion.<\/p>\nWhat have European Union leaders agreed?<\/h1>\n