Published: July 15, 2020 at 3:59 pm ET
European stocks rose on Wednesday, as well as US equity futures climbed, as investors eclipsed positive news around the coronovirus vaccine candidate.
Stoxx Europe 600 Index
On Tuesday, a 0.8% increase was on the heels of a 0.8% loss. The index is barely positive for the week. Elsewhere, German DAX
0.8% and French CAC received
Rose 0.9%. FTSE 100
Was up 0.8%.
Biotech Group Modern after US markets close on Tuesday
Said that its coronavirus vaccine candidate caused a “strong” immune-system response in a large group of people and that the study would move to a conclusive clinical trial in July.
Stephen Ince, AxiCorp’s chief global market strategist, said, “Although a mismatch between financial markets and the real economy is in full effect, removing a vaccine (virus) through a vaccine can pave the way for rapid economic recovery.” is”. .
“Therefore, positive news on the virus vaccine can go a long way to explain the inconsistency in a note to customers, changes in stock market sentiment amid anger at Main Street”.
Optimism was later seen spreading to Wall Street, with the Dow futures
241 points, S&P 500 futures
0.7% growth and Nasdaq-100 futures
Up to 0.4%. US stock closed near the session’s high on Tuesday, at the call of Federal Reserve Gov. Lyle Brainard for the bank to help regain the economy amid “dense fog of uncertainty” caused by COVID-19. .
Stocks fall in Asia, with CSI 300
1.2% among US-China tensions amid concerns. President Donald Trump said on Tuesday that he signed a bill banning China, which targets Beijing’s action in Hong Kong,
Will report earnings on Wednesday, while Europe also received some corporate updates.
Shares of heavy weight ASML Holding NV
The sharp rise in second-quarter profit by the manufacturer of microchip devices fell 0.9%, driven by higher sales, but later fell short of analyst expectations. The company said its growth outlook for 2020 remains unchanged relative to the beginning of the year despite the coronovirus epidemic.
Barbary Group plc
The biggest drop was on the Stocks 600, with a 15% drop in sales in the second quarter to 15%, followed by a 45% drop in sales in the first quarter by the British fashion label.
Shares of atlantia
A 20% increase after the Italian holding company’s motorway operator Autostrade per L’Italia reportedly offered a final attempt to save its license, under threat of being snatched by the government after a 2018 collapse of a bridge in Genoa. Of.
Citing sources, Reuters reported that Autostrade’s offer would include state lender Depositi e Presti (CDP) in which it took a 51% stake in Autostrade through a capital increase. Atlantia would eventually surrender ownership of Autostrade.