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Europe Seen Higher

Adel 3 August, 2020 11:28 am Global Stock Market, Market Update

European stock markets opened higher with caution on Monday, supported by signs of economic growth in China, but doubts remain about the global recovery with the rise of Covid 19 cases.

Futures for the German DAX index increased by 0.4%, FTSE 100 futures rose 0.1%, while the French CAC 40 index rose 0.4% (at 06:15) GMT.

The focus now will shift to Eurozone manufacturing PMI data, due for release later on Monday, and see if there is any sign of the sector’s recovery in July. Eurozone GDP data released last week showed a 12.1% decrease in Q2 of 2020, the largest ever.

Meanwhile, the numbers of Covid-19 cases continue to rise, bringing the total globally to 18 million as of August 3, and deaths approaching 700,000.

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