LONDON – European stock and coronovirus epidemics remained in focus for global markets on Monday morning as a result of the US election in early November.
The Pan-European Stakes 600 climbed 0.7% in early trading, with banks adding 2.9% to all sectors and key sectors entering positive territory.
The US election results are a major concern for investors. On Sunday, President Donald Trump publicly acknowledged for the first time that President-elect Joe Biden won the election, more than seven days after media outlets, including NBC News, called the race for Biden. However, in a subsequent tweet, Trump wrote that he would not accept.
Meanwhile, markets in Asia rose on Monday morning as the region’s 15 economies signed a deal that formed the world’s largest trade alliance. Tech and auto stocks rose.
The purpose of the trade deal signed on Sunday is, according to Reuters, to gradually reduce fees in many areas. The Regional Comprehensive Economic Partnership is now the world’s largest trade block, marking the first time that the East Asian powers China, Japan and South Korea are in a single-trade agreement except in the US.
Coronavirus epidemics are a major concern for markets. According to Johns Hopkins University data, more than 11 million Kovid-19 infections have been confirmed in the US. Data from the COVID tracking project also showed that more than 68,500 people in the US were hospitalized with coronovirus records.