Amid concerns over another COVID-19 wave, European stocks rose after a three-month slump

Amid concerns over another COVID-19 wave, European stocks rose after a three-month slump

People enjoy a drink outside a pub in Camden, central London on September 13, 2020.

Justin Talis / Agency France-Press / Getty Images

European stocks hit higher levels on Tuesday after their worst one-day performance in more than three months as the continent faced tougher economic sanctions due to rising cases of coronavirus.

Stocks Europe 600 SXXP, after hitting 2.4% on Monday.
+ 0.68%
Increased 0.7%.

UK FTSE 100 UKX,
+ 0.36%,
German DAX DAX,
+ 1.03%
And French CAC 40 PX1,
+ 0.31%
Every advanced.

Following a 509-point decline for the Dow Jones Industrial Average DJIA,
-1.84%,
U.S. Stock Futures ES00,
+ 0.09%
Inched up.

Federal Reserve Chairman Jerome Powell Treasury Sec. Steven Munuchin before the House Committee to discuss the mostly unsecured credit facilities, although he may focus on other issues. In a prepared comment, Powell said activity has surpassed its indifferent second-quarter levels, when most of the economy was shutting down, but the way forward will only come when people are confident it is safe to regain a wide range. Activities

Sweden’s Riksbank kept interest rates at zero and said it would continue to buy assets.

Several European countries, including France, Spain and the UK, have been plagued by a growing number of coronaviruses. UK Prime Minister Boris Johnson is expected to keep England pubs closed until 10pm and encourage people to work from home, turned upside down over the summer.

“We are giving a mild temporary shock in response to more humble, more targeted and often regional controls,” said Holger Schmidt, chief economist at the Barenberg Bank of Europe. “Many of these measures will affect parts of consumer spending (mostly services such as entertainment, recreation, tourism …) disproportionately. We expect these measures to temporarily dampen but will not derail the overall economic reversal. ”

Whitebread, WTB,
-3.31%,
Premier In-Owner fell 4% because it said it would cut 6,000 jobs or 18% of its workforce. Sales fell 75% as of August 27, ending the second quarter.

UK insurers, including Direct Line Insurance DLG
-4.38%,
Hiscox HSX,
-5.71%
And RSA insurance RSA,
-2.82%
The Financial Conduct Authority has indicated that when a customer renews their home or motor insurance policy, they will not pay more than they would if they were new to their provider through the same sales channel, giving tickets to a practice called “Price and Walking King”. .

Beasley BAZ,
-11.84%,
The specialty insurer, Covid-19, dropped its claims on its previous 40 340 million reinsurance, doubling its previous expectation.

Bitter GLJ,
+ 9.45%,
German leasing company, bounced 12% higher. The stock is still about 37% lower than what was alleged to be accounting irregularities by the short seller. The company has denied any disadvantages and ordered a special audit.

Kingfisher KGF,
+ 8.61%,
Owners of housing-improvement chains rose after its first six-month report at the end of July 31, with profits rising from 24 245 million to 39 398 million, and sales jumped 17 percent as of the third quarter.

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