European stocks rebound from virus-driven losses

News24
16 Oct 2020, 14:43 GMT+10

Europe's major stock markets rebounded in opening deals on Friday from the previous day's sharp sell-off sparked by tightening coronavirus lockdown measures in the region.

In initial trade, London's benchmark FTSE 100 index of leading blue-chip companies was up 1.3% to 5 907.87 points.

In the eurozone, Frankfurt's DAX 30 index added 0.6% to 12 783.73 points and the Paris CAC 40 gained 1.5% to 4 907.35.

Global equities fell Thursday, with investor sentiment hammered by fears that tighter coronavirus restrictions could derail the tentative economic recovery.

"Any gains are expected to be capped as sentiment remains fragile amid surging covid cases and tighter lockdown restrictions," cautioned City Index analyst Fiona Cincotta on Friday.

"The economic recovery from the initial Covid hit was already starting to stall. A further tightening of restrictions, investors fear, will derail a very fragile recovery.

"The hospitality sector, which is already on its knees will struggle to survive another lockdown blow and airlines are facing a very long difficult winter."

Traders were also keeping tabs on developments in Washington as lawmakers struggle to find agreement on a new stimulus for the beleaguered US economy, with a disappointing jobs report highlighting the need for action.

Asian equities were mixed on Friday, with gainers supported by bargain-buying after the previous day's sharp losses.

Source: News24

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

null in null

Lifestyle

Section

New French law targets smoking near schools, public spaces

PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...

Methionine Restriction Could Extend Lifespan, Boost Health

VILNIUS, Lithuania – A growing body of research suggests that selectively restricting a single nutrient in our diet could have profound...

Federal judge blocks President Trump's asylum ban at the Southern border

Washington, DC [US], July 3, ANI: A federal judge on Wednesday blocked United States President Donald Trump's asylum ban at the Southern...

3 indians abducted from factory amid al-Qaeda linked terrorist attack; India urges Mali to secure their safe, swift release

New Delhi [India], July 3 (ANI): The Ministry of External Affairs (MEA) has expressed deep concern over the abduction of three Indian...

Quad focused on territorial integrity, sovereignty and rule of law, says US State Department's Mignon Houston

Washington, DC [USA], July 3 (ANI): The Quad Foreign Ministers' Meeting (QFIM) held in Washington placed strong emphasis on the importance...

Congress' Hanumanth Rao visits Sigachi Pharma Factory explosion site, meets survivors

Sangareddy (Telangana) [India], July 3 (ANI): Telangana's Senior Congress leader V. Hanumanth Rao visited the Sigachi Pharma Factory...

International

Section