Global markets lifts as Covid-19 death toll in Europe subsides

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However, the number of new coronavirus cases jumped in China on Sunday, while the number of asymptomatic cases surged too

Traders work at their desks while screens show market data at CMC Markets in London, Britain, on December 13 2018. Picture: REUTERS/HENRY NICHOLLS

There was plenty of news to demonstrate just how brutal the virus has been: eye-popping plunges in car sales and air travel in Europe, Britain's prime minister being hospitalised, and Japan preparing to declare a state of emergency. But the markets appeared hopeful. “When you see that happening you can start gauging when lockdowns can start to be gradually lifted. That gives a little bit more visibility and that is vital,” he added, although he stressed there were still huge uncertainties and risks.Brent crude fell as much as $4 after Saudi Arabia and Russia, who have been at loggerheads this year over production, pushed back the planned start of a meeting of Opec and its allies, a group known as Opec+, until Thursday.

The dollar barely budged against the euro but the pound recovered having dipped 0.4% after British Prime Minister Boris Johnson was admitted to hospital for tests, as he was still suffering symptoms of the coronavirus.

 

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