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