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