LONDON – European markets traded in negative markets on Friday as a recurrence of the Kovid-19 cases in China pulled back the positive sentiment generated by US President-Elect Joe Biden’s $ 1.9 trillion stimulus plan.
The pan-European Stokes 600 fell 0.3% in early deals, oil and gas stocks fell 0.8% causing losses to all sectors and leading sectors to negative territory.
Biden, who took office on January 20, announced details of the US rescue plan on Thursday, including increased federal unemployment payments through September and direct payments to many struggling Americans of $ 1,400.
Markets in the Asia-Pacific began to shine on Friday, but were closed by noon due to rising cases of Kovid-19 in China, which led to locks in several cities, again raising concerns about an imminent global economic recovery Woke up
US stock futures were also lower in the early hours of Friday morning.
Back in Europe, Italy is once again plunged into political turmoil as former Prime Minister Mateo Renzi on Wednesday decided to draw his support for the current coalition government. The current Prime Minister Giuseppe Conte opposed the call for resignation, despite the coalition’s parliamentary majority being snatched away.
A two-day special conference of Germany’s ruling Christian Democratic Union Party will begin on Friday, with Chancellor Angela Merkel’s successor being elected on Saturday.
According to official data, according to data published on Friday, the UK economy declined by 2.6% in November, as fresh lockout measures were implemented in the country. This was more than the -5.7% expected by Reuters reported by economists, but last spring marked the first contraction since the onset of the coronovirus crisis.
France’s official statistics agency reported on Friday that December CPI (Consumer Price Index) inflation hit 0.0% year over year and 0.2% month over month.
Carrefour shares fell more than 5% in the bottom of Stocks 600 in early trading, following protests from the French government on Thursday over the acquisition of Europe’s largest retailer by Canada’s Elimination Coupe-Turd.
At the other end of the European blue chip index, British IT firm AVEVA Group climbed 4.7% after a positive trading update.