LONDON: Europe's stock markets clawed back some ground on Tuesday, a day after rising second waves of the coronavirus epidemic caused the region's biggest wipeout since June and drover investors back to government bonds.
"The market may be taking a breather but I would be surprised if that was it," said Rabobank's Head of Macro Strategy Elwin de Groot, referring to Monday's rout that came as countries had been forced to reintroduce some of the COVID-19 restrictions they removed over the summer. This came as France saw its seven-day daily rolling case count rise above 10,000 for the first time over the weekend, Italy introduced more mandatory testing and Germany describe the situation as"worrying".
"Add in uncertainty with U.S. elections and another COVID wave in Europe ... it unsettles investors."Australia's S&P/ASX 200 had dropped 0.7per cent, pressured by miners and energy stocks and the Aussie dollar fell to a one-month low while Hong Kong's Hang Seng index had closed down nearly 1per cent.
JPMorgan and Bank of New York Mellon had fallen 3.1per cent and 4.0per cent respectively on Monday too.
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