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European stocks rise after three months of worst drinking amid second-wave COVID-19 wave concerns

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

Justin Dollis / Agencies France-Press / Getty Images

European stocks rose on Tuesday after more than three months of poor one-day performance as the continent faced tougher economic restrictions due to rising cases of the corona virus.

After a 3.2% nosebleed on Monday, Stokes Europe 600 SXXP,
+ 0.68%
0.7% higher.

UK FTSE 100 UKX,
+ 0.36%,
German DAX DAX,
+ 1.03%
And French CAC 40×1,
+ 0.31%
Each one is advanced.

Following the Dow Jones Industrial Average fell 509 points to DJIA,
-1.84%,
US stock futures ES00,
+ 0.09%
inched up.

Federal Reserve Chairman Jerome Powell will appear with the U.S. Treasury Czech. To discuss the largely unspent credit facilities before a House committee of Steven Munuch, he may address other topics. In prepared comments, Powell has taken action since its sluggish second quarter, when most of its economy was closed, but the way forward is only when people believe that safeguarding broad-based restructuring is possible. “

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

Many European countries, including France, Spain and the United Kingdom, are catching the increasing number of corona viruses. UK Prime Minister Boris Johnson is expected to order pubs in the UK to close by 10pm and to encourage work from home, upside down from the summer.

“We present a modest recession in response to very moderate, well-targeted and often regional restrictions,” said Holger Schmidting, chief economist at Bank of Bernberg in Europe in general. “Many of these measures will hit a proportionate portion of consumer spending (mostly services such as leisure, entertainment, tourism, etc.). We expect these measures to temporarily slow down but not erode the overall economic recovery.”

Widfred WTB,
-3.31%,
The owner of the Premier Inn fell 4%, saying it would cut 6,000 jobs or 18% of its staff. Sales, like the second-quarter sales that ended Aug. 27, fell 75%.

UK insurers, including direct tax insurance DLG
-4.38%,
Hiscox HSX,
-5.71%
And RSA Insurance RSA,
-2.82%
When a customer renews their home or motor insurance policy, if they are new to their provider through the same sales channel, they are dropped after the Financial Conduct Commission proposes to label a procedure called “price walking”.

Beasley BEZ,
-11.84%,
A special insurer stumbled upon claims that COVID-19 claims would be $ 340 million more in reinsurance than previously expected.

Bitter GLJ,
+ 9.45%,
German leasing company, up 12%. The stock has fallen another 37% since allegations of account fraud were made by a short seller. The company denied any irregularities and ordered a special audit.

Kingfisher KGF,
+ 8.61%,
Owners of home improvement chains rose to $ 398 million from $ 245 million in the first half, ending July 31, and sales rose 17% in the third quarter as well.

Earl Warner

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