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Global Markets: European shares sink to one-month lows as COVID-19 cases surge

European equities fell in early Tuesday trading as risk-aversion swept markets, with a resurgence of coronavirus cases threatening the global economic recovery and caution ahead of U.S. elections on Nov. 3. Wall Street had its worst day in a month on Monday, and Asian markets also fell overnight. The MSCI world equity index, which tracks shares in 49 countries, was down 0.1% at 0828 GMT, having erased some losses overnight after dropping to a 19-day low in the previous session. MSCI’s main European Index was at a one-month low, down ...

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Share trading in Europe set to be fragmented by Brexit

The EU’s markets watchdog said on Monday banks and asset managers based in the bloc should execute most of their share trades inside the EU after full Brexit from January, in a step set to fragment cross-border markets. Large chunks of cross-border share trading are currently done on platforms in London, but Britain’s unfettered access to the bloc ends on Dec. 31. The European Securities and Markets Authority (ESMA) set out a revised “share trading obligation”, or STO, that mandates where banks and other users of stock markets must trade ...

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European stocks rebound as banks, autos rally

European stocks rose on Friday, boosted by positive earnings updates from Barclays and carmakers, but nagging worries about the economic impact of surging COVID-19 cases put markets on course for their biggest weekly decline in a month. The pan-European STOXX 600 index .STOXX advanced 0.9%, with London’s FTSE 100 .FTSE outperforming its European peers after Barclays BARC.L jumped 5.6% on strong results. Carmaker Daimler DAIGn.DE rose 2.3% as it raised its 2020 profit outlook after a 24% jump in demand for luxury cars in China in the third quarter. Sectors ...

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European stocks fall as German consumer morale weakens, virus cases spike

European stocks hit their lowest level in almost a month on Thursday, as a fall in German consumer morale, worries about soaring coronavirus cases in the continent and a U.S. stimulus impasse weighed on sentiment. The German DAX .GDAXI fell 0.9% and lagged its European peers, as a survey showed consumer morale in Europe’s largest economy dropped heading into November. The pan-European STOXX 600 .STOXX was down 0.7%, after falling as much as 1.2% to hit its lowest since Sept. 25. COVID-19 cases have climbed in Europe, with Spain becoming ...

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European stocks fall as healthcare, construction sectors drag

European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson. The pan-European STOXX 600 .STOXX fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package. Most European sectors slipped, with healthcare stocks .SXDP proving the biggest drag, while banking stocks .SX7P were supported by rising U.S. and European government bond yields. Nestle NESN.S lifted its 2020 ...

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European shares edge higher as earnings counter lockdown worries

European stocks inched higher on Tuesday as strong earnings from Swiss bank UBS, consumer giant Reckitt Benckiser and others offset concerns from tighter coronavirus curbs across the continent and doubts over fresh U.S. stimulus. The pan-European STOXX 600 .STOXX rose 0.2%, reversing from losses at the open. Ireland announced some of Europe’s toughest COVID-19 constraints on Monday, while Italy, Spain and Britain also imposed curbs to limit the spread of new coronavirus cases that now threaten to derail a budding economic recovery. “What we’re likely to see is concerns about ...

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European shares rise as upbeat earnings blunt virus fears

European stocks rose on Monday as strong earnings updates from Swiss wealth manager Julius Baer and Dutch firm Philips overshadowed worries about fresh coronavirus restrictions across the continent. The pan-European STOXX 600 index .STOXX advanced 0.6%, resuming gains after last week’s small losses. Julius Baer BAER.S gained 5.1% after it indicated an improvement in profitability for the first nine months of 2020 as client activity increased and it cut costs. That helped the broader financial services sector .SXFP rise 1.2%, with Credit Suisse CSGN.S and UBS UBSG.S up between 2.4% ...

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European shares set for weekly losses as virus cases surge

European shares bounced from two-week lows on Friday but were still set for weekly losses after a sell-off that was marked by fears of a second wave of COVID-19 infections, Brexit-related uncertainty and doubts about more U.S. fiscal stimulus. The pan-European STOXX 600 index .STOXX was up 0.9% after posting its worst session in more than three weeks on Thursday. Auto stocks .SXAP jumped 2.9% after Daimler DAIGn.DE and Volvo VOLVb.ST posted stronger-than-expected results. A resurgence in coronavirus cases across Europe has stoked fears about more sweeping lockdowns, with London ...

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European shares sink on second wave fears, U.S. stimulus doubts

European shares sank to a near two-week low on Thursday as a resurgence in COVID-19 cases across the continent and fading hopes for more U.S. fiscal stimulus before the presidential election dented demand for equities globally. The pan-European STOXX 600 index .STOXX was down 1.7% and on track for its worst day in more than three weeks, with travel and leisure .SXTP, autos .SXAP and energy .SXEP stocks tumbling more than 2%. Bank shares .SX7P tracked a decline in bond yields, shrugging off signs of a pickup in M&A activity ...

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European shares muted on doubts around vaccine trial, lockdowns

European shares steadied on Wednesday after tumbling in the previous session due to a pause in a COVID-19 vaccine trial and on concerns about more lockdowns, although investors stayed away from big bets ahead of talks on a Brexit trade deal. The pan-European STOXX 600 index was flat by 0746 GMT, recovering from its first fall in four days. Early gains in auto .SXAP, banking .SX7P and technology .SX8P stocks were offset by a slide in the travel and leisure .SXTP and energy .SXEP sectors. Hopes of more stimulus to ...

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Global shares slip as coronavirus worries overshadow positive China data

European shares fell on Tuesday as worries over the coronavirus pandemic overshadowed Chinese trade data that pointed to a buoyant recovery, while the U.S. dollar edged away from a three-week low. The broader Euro STOXX 600 fell 0.4% in early trading, with bourses in Frankfurt, London and Paris all down by a similar margin. Keeping markets on edge, traders said, was news that Johnson & Johnson was pausing its COVID-19 vaccine candidate clinical trials because of an unexplained illness in a study participant. Investors see the quick introduction of a ...

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Stocks scale five-week highs on China’s post-holiday surge

Global stocks hit five-week highs on Monday led by China’s post-holiday surge as investors bet on a steady recovery for the world’s no. 2 economy, but worries about rising COVID-19 infections capped gains in Europe and the United States. European countries were considering adding fresh travel curbs due to rising coronavirus, a contrast to Asia-Pacific countries including Singapore, Australia and Japan, where a gradual easing of some international travel restrictions was under way. Still, U.S. and European markets were a tad higher as investors hoped for coronavirus aid in the ...

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September sell-off pulls Asian equities’ 2020 performance back into the red

Asian equities fell in September for the first time since March, erasing this year’s gains even as the region showed signs of continued economic recovery. The MSCI AC Asia-Pacific All Cap Index, which tracks nearly 7,000 companies across 14 markets in the region, fell 1.24% in September amid a broad sell-off that also extended to global stocks and commodities. The index has now lost 0.34% so far this year, just a month after the gauge’s year-to-date performance turned positive for the first time in August. Despite the return to negative ...

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World stocks surge as hopes grow for U.S. stimulus

World shares pushed on from one-month highs, with Asian stocks closing in on two-and-a-half-year highs, as expectations grew of a Democratic victory in U.S. elections next month, reviving hopes for more U.S. stimulus. A widening lead for Democratic presidential candidate Joe Biden and the possibility his party will win both the Senate and the White House in the Nov. 3 vote has raised the prospect of a big economic stimulus. The possibility of stimulus is also helping to counter investor wariness about a Democrat pledge to hike corporate tax rates. ...

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Global Markets: Shares rebound from Trump’s shock stimulus talks cancellation

European shares rose on Wednesday, as initial dismay at U.S. President Donald Trump’s decision to cancel fiscal stimulus negotiations with lawmakers in Washington was replaced by optimism about an aid package after the U.S. elections. Trump broke off talks with Democrats in a tweet, saying that negotiations will stop until after the Nov. 3 election, when he promised a major stimulus bill if he wins. The news quickly rattled Wall Street but Asian investors became less concerned overnight on the grounds that whoever wins the election will still introduce a ...

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