Stocks surge as global growth of COVID-19 cases slows


European stock markets opened higher on Monday, as investors viewed optimism about slowing global growth of COVID-19.

^ FTSE) opened 3% in London, the DAX (^ GDAXI) jumped 4% in Germany and the CAC 40 (^ FCHI) climbed 3.3% in Paris. “Data-reactid =” 24 “> The FTSE 100 (^ FTSE) opens at 3% in London, the DAX (^ GDAXI) jumps by 4% in Germany and the CAC 40 (^ FCHI) progresses by 3.3% to Paris.

Analysts pointed to slower growth in global COVID-19 cases and slower deaths from the new coronavirus.

Confirmed cases of COVID-19 worldwide increased to 1.27 m over the weekend, according to John Hopkins University. However, the number of new cases registered in the past 24 hours was the lowest in almost three weeks, according to the Deutsche Bank follow-up project.

“With the spread of the virus which seems to be slowing down somewhat, at least in Europe and especially in Asia, the risk appetite could improve slightly for the moment,” said Marc-André Fongern, responsible for the spot and options exchange at Fongern Global Forex. .

Investors also noted a deceleration in the number of deaths from COVID-19. Saturday marked the first day since March 17 that coronavirus deaths worldwide have increased by less than 10%.

“Italy, Spain, France and Germany have all experienced declining numbers,” said Naeem Aslam, chief market analyst at Avatrade.

“There is also some optimism in the number of deaths in New York, but it may be premature to comment on anything else because the infection rate is still on the rise in New York. “

Prime Minister Boris Johnson admitted to hospital over the weekend due to COVID-19 and President Donald Trump warned on Sunday that his country was facing “two difficult weeks”. “Data-reactid =” 31 “> Optimism came despite the fact that British Prime Minister Boris Johnson was admitted to hospital this weekend because of COVID-19 and US President Donald Trump warning Sunday that his country faces “about two weeks”.

ES = F) rose 3.9%, the Dow Jones Industrial Average futures (YM = F) were up 3.9% and Nasdaq futures (NQ = F) were up 4.1% . “Data-reactid =” 32 “> The US futures contracts pointed to a strong opening later today. S&P 500 Futures (ES = F) were up 3.9%, Dow Jones Industrial Average Futures (YM = F) were 3.9% higher and Nasdaq (NQ) Futures = F) increased by 4.1%.

^ N225) closed up 4.2%, the Hong Kong Hang Seng (^ HSI) was up 2.1%. while the Shanghai Composite in China (000001.SS) finished down 0.6%. “Data-reactid =” 33 “> Overnight in Asia, Japanese Nikkei (^ N225) closed up 4.2%, Hong Kong Hang Seng (^ HSI) rose 2.1%. while the Chinese Shanghai Composite (000001 .SS) finished down 0.6%.


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