Economic recovery hopes take hold

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

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UK chancellor’s economic measures fail to impress in Luton

Hazel Simmons has been an elected member of Luton borough council since 1991 and leader of the local authority for the past 13 years.

“These are the worst few weeks I’ve had,” she said on Wednesday, after returning from Westminster with a group of residents petitioning the government to come to the rescue of the town of 220,000.

Luton, just north of London, has been hit by coronavirus and the subsequent months of lockdown harder than almost anywhere else in the UK, and its council, which provides most of the services for the town, is facing ruin.

Hazel Simmons, leader of Luton borough council, said the £11m the town received in crisis funds from central government went towards spending related to Covid-19 © Mark Kerrison/Alamy

Town councillors, residents and people in the charitable sector welcomed many of the policies announced on Wednesday by Rishi Sunak, the chancellor, to revive the

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Investors look to economic data and U.S. virus surge

European markets are expected to open lower Tuesday as concerns over the threat to economic recovery of new coronavirus cases in the U.S. and weak German data put the brakes on Monday’s rally.

Britain’s FTSE 100 is seen around 41 points lower at 6,145, Germany’s DAX is set to slide by around 66 points to 12,667 and France’s CAC 40 is expected to open down by around 42 points at 5,040, according to IG data.

European stocks look set to follow the mixed tone set in Asia Pacific overnight, where markets in South Korea and Japan retreated, while mainland Chinese shares continued Monday’s blockbuster rally.

German industrial production data came in weaker than expected on Tuesday morning, rising by 7.8% in May, a more modest rebound than the 10% expected by analysts polled by Reuters following a -17.5% contraction in April.

The Greater Miami area on Monday became the latest

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Markets look to economic recovery and vaccine hopes

European markets are set for a bounce on Monday morning as investors focus on the prospect of economic recovery and progress on potential coronavirus drugs, shrugging off concerns about a further acceleration of the pandemic.

Britain’s FTSE 100 is seen around 86 points higher at 6,243, Germany’s DAX is expected to jump by around 252 points to 12,780 and France’s CAC 40 is set to climb by around 98 points to 5,105, according to IG data.

Stocks in Europe look set to follow the trend set in Asia overnight as mainland Chinese stocks rallied on bullish sentiment, with the Shanghai composite surging more than 4% to lead gains.

The European Commission said Friday that conditional approval had been granted for Gilead’s antiviral drug remdesivir to be used in the EU, making it the first authorized treatment for the virus in the region. The Sunday Times newspaper then reported that the

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