Rolling coverage of the latest economic and financial news, as coronavirus lockdown easing measures push equity markets higher
Asian and Australian stocks have set the tone for a strong start in Europe:
UK and US stock markets are back in action today after being closed for the bank holiday Monday. Major indices in both countries are expected to rise, taking their cue from Asia where stocks are climbing thanks to the easing of Covid-19 lockdown restrictions across the world and some better-than-expected economic data out of Singapore.
Singapore is among the world’s most open economies and is viewed as a bellwether on the economic front. And while the market was positioning for more pain, the GDP contraction was much less than expected. It will be received quite favourably in the global context since Singapore’s economy is only now emerging from lockdown status.
Asia markets have continued in this vein, rising sharply on reports that Japan is also easing its remaining emergency measures, while news that American firm Novavax is set to start its first human studies of its experimental coronavirus vaccine also provided a boost.
With UK markets set to play catch-up this morning we can expect to see a very strong open for the FTSE100, with other markets in Europe also set to open higher and build on the gains made yesterday.
Continue reading… Source: The Guardian: Global stocks climb as countries ease Covid-19 lockdown measures – business live ———