Business

European markets react to surge in coronavirus cases

European stocks are expected to open lower on Wednesday as an increase in coronavirus cases in the United States and beyond, and regional epidemics in Germany, have frightened investors.

The London FTSE is seen 47 points lower at 6280, the German DAXis is expected to open 74 points lower at 12.470, the CAC 40is in France has seen 25 points lower at 4.995 and the FTSE MIBis in Italy has seen 72 points less at the opening, at 19.641, according to IG.

White House health adviser Dr. Anthony Fauci warned Tuesday that parts of the United States were starting to see a “disturbing wave” of Covid-19 cases.

Faucidid also says, however, that states where coronavirus epidemics are on the increase may not need to make an “absolute shutdown”. More than 2 million people in the United States have been infected with the coronavirus so far, according to data compiled by Johns Hopkins University.

Stocks in Asia Pacific mostly rose slightly on Wednesday morning, while US equity futures also rose overnight, despite concerns over the spike in cases in the U.S. and several spikes in Germany , one of which led to the closure of an entire district on Tuesday.

There is no major European benefit on Wednesday, but the Ifo Institute’s investigation into German business sentiment in Germany will be closely monitored.

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