European markets are expected to open higher Thursday morning as investor focus swings to the potential economic recovery and earnings season gets underway.
Britain’s FTSE 100 is set to climb around 28 points to 6,184, Germany’s DAX is seen around 140 points higher at 12,635 and France’s CAC 40 is expected to gain around 39 points to 5,020, according to IG data.
European stocks look set to follow overnight action in Asia Pacific, where markets advanced on the back of a continued rally in mainland China, bolstered by the release of Chinese inflation data.
Despite the persistently rapid spread of the coronavirus in the U.S., where the number of cases surpassed the 3 million mark on Wednesday, according to Johns Hopkins University, investor optimism has returned over the prospects of a recovery for the global economy as signs of progress emerge in data and scientific discovery.
Gilead Sciences on Wednesday