European markets set for lower open; coronavirus, earnings in focus
European markets are set to open slightly lower on Thursday morning as China 's coronavirus epidemic remains the primary focus for investors.DAX is set to open down 18 points at 13,731, according to IG. European shares rallied to new highs on Wednesday as luxury stocks were lifted by a fall in the number of new coronavirus cases reported in China the previous day. But the death toll and number of new cases recorded in Hubei province, the area at the center of the outbreak in China, rose sharply on Wednesday, according to figures from local health authorities . The region reported an additional 242 deaths and 14,840 new cases for February 12, bringing the total number of people who have died amid the outbreak up to 1,310. The number of new cases rose dramatically after the province changed its method of reporting cases. The province said it is starting to include "clinically diagnosed" cases in its figures and that 13,332 of the new cases fall under that classification. Investors are monitoring the situation and its potential effect on both the Chinese and global economies. IMF Managing Director Kristalina Georgieva told CNBC on Wednesday the new strain of coronavirus was "clearly more impactful" on the world economy than the 2002-2003 SARS epidemic. The outbreak has led to the closure of Chinese factories and businesses, resulting in a rise in demand for business loans. Major global airlines have suspended flights to mainland China, while events around the world, including Barcelona's Mobile World Congress, have been cancelled to prevent the virus spreading. Chinese policymakers are taking steps to minimize the shock to China's domestic economy. The country's central bank announced last week that it will ease monetary policy, while the Chinese government rolled out tax guidelines on Tuesday to help reduce financial pressure in key sectors. Asian shares dipped lower on Thursday on the back of the upturn in Hubei province's coronavirus cases, with Japan's Nikkei, Hong Kong's Hang Seng and mainland China's Shanghai and Shenzhen composites all trading in negative territory. Back in Europe, British Prime Minister Boris Johnson is set to reshape his government on Thursday as the U.K. forges a future for itself outside of the European Union. Politics also remains in focus in Ireland, where lawmakers are working to negotiate a new government after no political party managed to secure a clear majority in the country's election last weekend. New data from the U.K.'s Royal Institution of Chartered Surveyors on Thursday showed that British house prices rose for the first time since July 2018 last month. Earnings will also be a focal point for European investors on Thursday, with Read more: CNBC
Or The focus is shitty leadership in the US. Which is causing concerns in the global markets...mainly asTrump is causing a breakdown in our 3 branches of Government and no one there is to check him. What about that concern? keesdekortbnr RoyceTostrams apanalis freezerohedge
European markets set for higher open as investors monitor coronavirus updatesEuropean markets are set to open slightly higher on Wednesday morning after China recorded its lowest number of new coronavirus cases since January.
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