A new Imperial College London/Ipsos Mori study shows the UK government’s efforts to curtail COVID-19 haven’t been as effective as had been intended. Photo: Han Yan/Xinhua via Getty
Unease continues to spread across Asian markets but European markets showed a modest recovery on Thursday despite COVID-19 containment efforts struggling to reap results. A lack of a US stimulus deal adds further pressure. Global stock markets suffered from a heavy sell-off on Wednesday.
^GDAXI) was higher by 0.8% in Frankfurt and the CAC 40 (^FCHI) gained by 0.7% in Paris. In Milan, the FTSE MIB (FTSEMIB.MI) tilted higher by 0.9%. The IBEX 35 (^IBEX) went up by 0.5% in Madrid. In London, the FTSE (^FTSE) also rose by 0.3%.” data-reactid=”29″European markets opened higher. The DAX (^GDAXI) was higher by 0.8% in Frankfurt and the CAC 40 (^FCHI) gained by 0.7% in Paris. In Milan, the FTSE MIB (FTSEMIB.MI) tilted higher by 0.9%. The IBEX 35 (^IBEX) went up by 0.5% in Madrid. In London, the FTSE (^FTSE) also rose by 0.3%.
Continental governments are ramping up their COVID-19 measures as cases continue to rise. Germany has introduced a four-week partial lockdown. Restaurants, bars and nightclubs will be closed as well as leisure facilities, including gyms, event venues, cinemas and amusement parks.
France has also reverted to new nationwide restrictions, which will last until 1 December. This includes bars and restaurants being closed, domestic travel and public gatherings being banned.
“The fear is that this particular lockdown is going to hurt the economy even more,” said Naeem Aslam, chief market analyst at AvaTrade. “The reason is that the European economy is already in a fragile state, and another blow is going to draw more blood.”
Imperial College London and Ipsos Mori reveals that the government’s efforts to curtail coronavirus in England have not succeeded in reducing the spread of the disease, with infection rates doubling every nine days and an estimated 960,000 people carrying the virus in England on any one day.” data-reactid=”38″The UK could also be heading in this direction. A new study from Imperial College London and Ipsos Mori reveals that the government’s efforts to curtail coronavirus in England have not succeeded in reducing the spread of the disease, with infection rates doubling every nine days and an estimated 960,000 people carrying the virus in England on any one day.
The European Central Bank is also largely in focus today as it is set to announce its latest monetary policy. Investors are expecting it to continue taking supportive market measures, meaning an increase in its asset purchase program as interest rates are already in negative territory.
“Speculators are mostly positioned for the euro to show more weakness today,” said Aslam.
Coronavirus: Germany announces second lockdown for month of November” data-reactid=”41″READ MORE: Coronavirus: Germany announces second lockdown for month of November
Markets have been forced to accept that a second stimulus package isn’t coming ahead of the US election as the Senate has gone on recess until 14 November.
“Investors do know that they will see another stimulus package as the US economy is in desperate need of another stimulus package” said Aslam. “The delay in the stimulus package could mean that we may actually see a bigger stimulus package. But this only depends on the smooth transition of power. For instance, if Donald Trump wins the US election, there is no doubt that we will see a massive stimulus package very soon; however if Donald Trump loses the US election, he is likely to make the power transition process as difficult as possible.”
AAPL), Google (GOOG), Amazon (AMZN), and Facebook (FB).” data-reactid=”44″Further, markets will be watching for major tech earnings today from Apple (AAPL), Google (GOOG), Amazon (AMZN), and Facebook (FB).
ES=F) was up by 0.9% and Dow Jones index (YM=F) was up by 0.8% and the Nasdaq (NQ=F) was 1% higher.” data-reactid=”45″Wall Street markets joined the global sell-off when trading got under way in New York on Wednesday, but futures are pointing up. The S&P 500 (ES=F) was up by 0.9% and Dow Jones index (YM=F) was up by 0.8% and the Nasdaq (NQ=F) was 1% higher.
^N225) was down by 0.4% and the Hong Kong Hang Seng (^HSI) lost by 0.5%. With respect to mainland Chinese markets, the Shanghai Composite (000001.SS) was higher by 0.1% and the Shenzhen Component (399001.SZ) rallied by 1%.” data-reactid=”46″Stock markets were lower in the Asian trading session. Japan’s Nikkei (^N225) was down by 0.4% and the Hong Kong Hang Seng (^HSI) lost by 0.5%. With respect to mainland…
Read More: European markets recover as governments struggle to contain COVID-19