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Another record U.S. virus count curbs risk appetite

World stocks and oil prices were faltering on Friday as record-setting new coronavirus cases in several U.S. states led to worries that more lockdowns may be necessary, making a quick economic recovery unlikely. The upcoming second-quarter earnings season, expected to be the worst for Europe and the United States since the 2008/09 financial crisis, added to the woes, pushing investors to chase safe-haven assets, such as U.S. Treasuries and the yen. European stocks declined 0.3%, taking cues from Asia, where China ended its rally. Shares in China fell 1.8% from ...

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China charges on, gold reaches nine-year high

European shares were rising again after a two-day wobble on Thursday as China’s markets continued their charge, and something between fear and greed propelled gold to a nine-year high. Chinese stocks set their longest winning streak in two years and the yuan had strengthened past 7 per dollar overnight, despite rising tension over Hong Kong and the economic uncertainty caused by COVID-19. It was the Shenzhen blue-chip index’s eighth straight day of gains, adding another 1.5% to its 16% surge this month, and pushed Europe in the right direction after ...

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Global shares waver on coronavirus fears

Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. Oil prices fell on oversupply fears. Frankfurt, Paris and London all opened lower in early trading as investors shifted to wait-and- see mode before upcoming earnings and clung to the perceived safety of the U.S. dollar . [GVD/EUR][/FRX] It was a rosier picture in Asia, where Chinese stocks extended their gains to seven sessions, with the blue-chip index up ...

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China shares rally, Asian stocks take a breather

The Chinese share market extended its positive run on Tuesday, in line with the mainland government’s push for a stronger market, while the rest of the region turned cautious on equities. MSCI’s broadest index of Asia-Pacific shares outside Japan see-sawed during the local session and was down 0.2%, after it briefly traded in positive territory. The negative performance on Tuesday came after the index rose 7% which took it to a 4-1/2 month high in the past five trading sessions. Japan’s Nikkei gave up 0.7% while U.S. stock futures shed ...

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China rally triggers gains in European cyclical stocks

European shares headed towards a one-month high on Monday, with a rally in China’s markets setting an upbeat tone as investors banked on the world’s second biggest economy to lead a recovery from the coronavirus-induced slump. The pan-European STOXX 600 climbed 1.6%, as stocks exposed to China, including carmakers, industrials, energy firms and luxury goods makers, gained strongly. The German DAX, London’s FTSE 100 and France’s CAC 40 all rose about 2%. China’s blue-chip index jumped over 5%, as investors stocked up on cheap funding to invest in an economy ...

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European Stocks Waver With U.S. Markets Shut

European stocks wavered Friday, with trading volumes down as American markets remain shut for the Independence Day holiday and investors take stock of a surge in coronavirus infections in the U.S. that could impede the global economic recovery. The pan-continental Stoxx Europe 600 drifted between gains and losses. In Asia, most major equity benchmarks closed higher. U.S. stock futures also wobbled, with contracts linked to the Dow Jones Industrial Average ticking up 0.1%. The gauge for blue-chips stocks ended the week up 3.3% ahead of the Fourth of July holiday. ...

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European stocks pause as virus worries offset rebound hopes

European stocks paused on Friday after gains through the week as another record surge in U.S. coronavirus cases dulled optimism from a brisk recovery in China’s services sector. The pan-European STOXX 600 index was largely flat after opening marginally higher, with trading volumes thinned by a U.S. market holiday. Technology stocks led the gains, rising 0.7%, while banks , insurers and oil & gas fell after a strong rally in the previous session. The benchmark index was headed for a 2.8% weekly gain as hopes of a COVID-19 vaccine and ...

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Dollar edges up; Aussie and Kiwi gain slightly on U.S. and China data

The dollar edged up in early London trading on Friday and currency traders’ risk appetite was boosted only slightly by better-than-expected jobs data in the United States, as surging coronavirus cases continued to taper market optimism. U.S. payrolls surged on Thursday but the reaction in currencies was limited. Even after two months of job recovery from May, the U.S. economy has recovered just over a third of an historic plunge of 20.787 million jobs lost in April. Broader market sentiment improved in the U.S. session after the jobs data and ...

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Global hedge fund liquidations surge as coronavirus hurts returns – data

More hedge funds went out of business during the first three months of 2020 than at any other time since 2015 as the coronavirus led to heavy losses and investors pulled out billions in assets. Hedge Fund Research reported on Tuesday that 304 funds liquidated around the world in the first quarter, marking the highest level since the fourth quarter of 2015 when 305 funds shut down. The number of closures is 50% higher than it was during the last three months of 2019 when 198 funds were liquidated, HFR ...

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U.S. Stock Futures Slip After S&P 500’s Best Quarter in Over 20 Years

U.S. stock futures ticked down Wednesday, signaling that the equity market will start the third quarter on a tepid note after closing out its best three months in more than 20 years. Futures tied to the S&P 500 slipped 0.2%, suggesting the stocks benchmark will open slightly lower. The S&P 500 on Tuesday completed its biggest one-quarter gain since 1998, capping a rally fueled by the Federal Reserve’s aggressive support for financial markets and signs of an early recovery in economic activity. Investors will have a fresh chance to assess ...

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Global shares begin second-half with a whimper despite positive data

Global stocks struggled for momentum on Wednesday as improving economic data was offset by concern that surging coronavirus cases in the United States could derail the world’s recovery before it properly begins. Germany’s manufacturing sector contracted at a slower pace in June, while French factory activity rebounded into growth, data showed. German retail sales rose sharply in May, reflecting a rebound in private consumption, while a recovery in China’s factory activity offered further signs that the world’s second largest economy may have passed the worst of the devastation caused by ...

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Virus fears lead futures lower after strong quarterly rebound

U.S. index futures dipped on the last trading day of the second quarter on Tuesday as coronavirus-related worries and simmering U.S.-China tensions weighed on sentiment at the end of what is expected to be the S&P 500’s best quarter since 1998. The benchmark index has rebounded about 18% since April on a raft of fiscal and monetary stimulus and the easing of restrictions, but is still down about 5% on the year as a resurgence in coronavirus cases raises fears of another round of lockdowns. With California and Texas marking ...

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Asia stocks up as China PMI, U.S. data help cap strong quarter despite virus woes

Asian shares advanced on Tuesday as positive economic data from China and the United States helped to close out a strong quarter, though a renewed surge in global coronavirus cases underlined a challenging investment climate. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.51%, on course for its highest quarterly gain in nearly 11 years. However, it was not clear whether the optimism would carry over into European trading, with EUROSTOXX 50 futures losing 0.7%, FTSE futures shedding 0.36%, and E-Mini futures for the S&P 500 down 0.24%. ...

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Global Stocks Struggle to Bounce Back

European stocks and U.S. stock futures wavered at the start of the week, as investors worried that any new wave of coronavirus infections could hold back a global economic recovery. The pan-continental Stoxx Europe 600 was up 0.3%, with stocks in the region led higher by Germany’s Dax index. In Asia, Hong Kong’s Hang Seng Index fell about 1.2%, while the Shanghai Composite pulled back 0.6%. South Korea’s Kospi Composite declined around 2%. U.S. stock futures tied to the Dow Jones Industrial Average rose 0.4%. The Dow Jones Industrial Average ...

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European shares rise, but set for weekly losses

European stocks inched higher on Friday, propped up by positive company updates, although investors remained cautious about a resurgence in U.S. COVID-19 cases and its impact on the global economy. The pan-European STOXX 600 index was up 0.4%, with technology , industrial and media companies leading sectoral gains. For the week, however, the STOXX 600 was on course to fall 1%. Markets this week have swung between fears of a second wave of coronavirus cases, particularly in the United States, and optimism over improving economic data in Europe as many ...

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