European stocks are expected to open in negative territory Monday as investors digest the rising coronavirus death toll.
London’s FTSE is seen opening 32 points lower at 6,146, Germany’s DAX is expected to open 31 points lower at 12,062, France’s CAC 40 is seen 18 points lower at 4,898 and Italy’s FTSE MIB is seen 35 points lower at 19,015, according to IG.
Global markets are expected to react to the news that the coronavirus has now killed more than 500,000 people around the world, according to data compiled by Johns Hopkins University. The number of confirmed infections has now exceeded 10 million.
The U.S. accounts for more than 20% of all reported deaths caused by Covid-19, more than any other country in the world, according to the data, followed by Brazil, the U.K., Italy and France. However, country-to-country comparisons of the death toll are difficult due to differences in reporting methods.
Shares in Asia Pacific fell Monday on the back of the data, as well as a decline in oil prices, which fell for a second straight session on Monday following data showing an increase in coronavirus cases, which has led to the reimposition of localized lockdowns in some countries that could dent demand for oil.
There are no major earnings in Europe Monday. On the data front, an indicator of euro zone economic sentiment for June is released at 10 a.m. London time.