European stock index futures bounce on Fed's bond buying plan

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The Fed is set to start purchasing corporate bonds on Tuesday through the secondary market corporate credit facility (SMCCF), one of several emergency facilities recently launched by the U.S. central bank to shore up liquidity.

Euro Stoxx 50 futures (STXEc1) surged 2.5%, recovering from a slump in the past week that was fuelled by concerns of another wave of global coronavirus infections. German DAX futures (FDXc1) were up 2.7%, while FTSE 100 futures (FFIc1) gained 2.2%.

S&P 500 futures also added 1.1%, looking set to extend gains for the benchmark S&P 500 index (SPX) for a third straight day.

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