European actions take place on signs of slackening of the US-China tension of Wirecard is crushed again

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European stocks pushed higher on Friday and headed for a weekly gain after days of worries about the rise in coronavirus cases in parts of the world. Good potential news about the US, trade with China has been driving some momentum.
The Stoxx Europe 600 index
SXXP,
+ 0.74%

rose 0.6% after closing down 0.7% on Thursday, slamming two streak winning streak. For the week to Thursday, the index gained 2.6%. Besides, the German DAX 30 index
DAX,
+ 0.81%

gained 0.6%, the French CAC 40 index
PX1,
+ 1.04%

climbed 0.8% and the FTSE 100
UKX,
+ 1.07%

addition of 0.4%.

Dow Jones Industrial Average Forward
YM00,
+ 0.91% rose 0.5%, or 138 points from 26.036, after Thursday’s session, which saw a notch showing the second straight drop. The S&P 500
SPX,
+ 0.05%

and the Nasdaq Composite
COMP,
+ 0.32%

made a meager of slight gains.
Friday, the US brands Four Witches Day – the simultaneous expiration of simple stock options, single stock futures and stock options on stock indexes and futures, which can trigger turbulence.

The future was flat until a report surfaced on Bloomberg that China will increase the purchase of US production of soybeans, corn and ethanol online with a phase of a trade agreement, which has been delayed by the pandemic. That comes after talks between Secretary of State Michael Pompeo and China’s official foreign policy in Hawaii this week.
President Donald Trump on Thursday said in a tweet that the United States could completely dissociate from China, a day after his senior trade advisor said such a move would not be reasonable policy
Stocks generally had a turbulent week in the midst of a fight to rally the most hollow of Mars. Investors have struggled with the persistence of a coronavirus outbreak as part of the United, although China has declared a Beijing epidemic as under control, and signs of how economies are adaptation.
European Union leaders will be on Friday to relaunch negotiations on a 750 billion euro (US $ 840 billion) recovery fund to revive battered European economies. The deep divisions of staying with hard-hit countries like Spain and Italy by pushing funds, while the so-called “frugal four”, including Denmark and Austria, are opposed to the fact, great part of this money will be used for grants.
Among stocks on the move, shares of Wirecard AG
IDM,
-41.36%

fell 43%, Thursday’s expansion waned when German processor payments told its auditor could not locate 1.9 billion euros ($ 2.1 billion) in cash on his balance sheet. Wirecard could see banks putting an end to 2 billion euros in credits if it cannot deposit its 2019 accounts on Friday.
Some of the lack of cash apparently took place in Asia, but one of the Philippines’ banks involved in the investigation told Bloomberg that the documents were forged. A Wirecard spokesperson did not respond to Bloomberg’s request for comment.
Wirecard will have a hard time “getting out of this crisis-free,” even if a white knight like the German government steps in loans to be terminated, David Vignon, analyst at Bryan Garnier, told clients in a note.
“Wirecard once was one of the crown jewels of the German financial market and the German government could bail out either in the game, or by guaranteeing a loan. In any case, this would most likely lead to new management put in place by the German government, and a long and extensive review of the operations of the company, ”he said.
Besides, the oil companies and the stocks of medicines have been contributing to the support of the Stoxx 600 index, with Total SA
FP,
+ 2.27%
EARLY,
-0.27%

up 1.2% and Roche Holding AG
ROG,
+ 1.55%

the increase of more than 1%.

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