Economy

European markets looking forward to begin the week mixed as coronavirus weighs on sentiment

On Monday, it is expected that European stocks are to open in the mixed territory by following the trend set in their Asian counterparts overnight. London’s FTSE is seen opening 13 points higher at 6,877, Germany’s DAX down 2 points at 14,018, France’s CAC 40 down 2 points at 5,688, and Italy’s FTSE MIB 92 points lower at 22,549, as per IG.

The mixed open set for European equities comes as stocks in Asia-Pacific saw a mixed trading session on Monday. On Sunday, the U.S. stock futures fell in overnight trading as the investors assessed the outlook for more Covid-19 relief stimulus. In 2021, the stock market is coming off a solid week as investors looking past a violent siege of the Capitol and focusing on the prospect for additional fiscal stimulus after a Democratic sweep of Congress.

President-elect Joe Biden pledged on Friday that a hefty economic stimulus rolled out which he said will be “in the trillions of dollars”. On Thursday, more details will be followed in a formal announcement, six days before he is slated to take office. Well, the requirement for further stimulus was underscored by an unexpected job loss in December.

 In Europe, investors will highly focus on the alarming surge in coronavirus cases globally as countries race to vaccinate their elderly. The most vulnerable members of society, and healthcare workers against Covid-19 as fast as they can. In this weekend, both the U.K.’s Queen Elizabeth and her husband Philip in their nineties, received vaccinations against COVID-19, as per news from Buckingham Palace.

There are no major European earnings Monday; on the data front, Spain releases industrial output figures for November.

French Prime Minister Jean Castex exclaimed that Moderna’s Covid-19 vaccine will on Monday in France as Reuters reported as the country ramps up its vaccination drive after a slow start.

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