European Shares Seen Opening Flat To Higher

European stocks may open on a positive note Friday, though underlying sentiment may remain cautious as coronavirus cases continued to increase in the United States and some other countries.

The United States reported at least 60,565 new Covid-19 cases on Thursday, the largest single-day tally of cases by any country since the virus emerged late last year in China.

The country’s three biggest states — California, Florida and Texas — are reporting their largest single-day death tolls since the pandemic began, raising uncertainty about a recovery from the pandemic.

Some states are rolling back their reopenings, while others are ordering people arriving from hotspots to quarantine.

Greek authorities said they are ready to re-impose public and travel restrictions next week. Italy has banned entry to people coming from 13 countries.

Brazil and South Africa are also reporting rising virus cases. The border between Australia’s Victoria and New South Wales (NSW) has been closed for the first time in 101 years.

The World Health Organization said it is keeping an “open mind” on whether airborne transmission plays a major role in spreading the virus.

Asian markets drifted lower amid growth concerns and as mainland China shares fell for the first time since June 29. The dollar index rebounded and gold traded flat while oil extended losses from the previous session.

U.S. stocks ended mixed overnight as data showed that initial unemployment claims remain elevated and the relentless surge in coronavirus cases across America raised fears of another lockdown in several states.

The Dow Jones Industrial Average fell 1.4 percent and the S&P 500 shed 0.6 percent, while the tech-heavy Nasdaq Composite index rose half a percent to reach a record closing high.

European markets ended lower on Thursday as rising Covid-19 cases in the U.S. and elsewhere around the world fueled concerns about economic growth.

The pan European Stoxx 600 declined 0.8 percent. The German DAX edged down marginally, France’s CAC 40 index lost 1.2 percent and the U.K.’s FTSE 100 tumbled 1.7 percent.

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