Amidst the grave pandemic situation, the European market witness flat open
Image Credits – lowy Institute
As the US market is reacting to the coronavirus pandemic, European markets are looking forward to opening largely flat on Thursday.
According to IG, the CAC of France stands at 2 points higher at 4,191, the DAX of Germany is 21 points lower at 9,492, and the FTSE of London is due to open at 5,431, which is 3 points higher. Also, the FTSE MIB is standing at 12 points higher at 16,341.
The number of confirmed COVID-19 cases has doubled in the US since Friday, surpassing 200,000 on Wednesday. The global markets will certainly react to this news on Thursday.
According to Johns Hopkins University, the virus has already infected 203,608 people in the US and has killed at least 4,476.
The President of the US, Donald Trump has already warned the country about a huge increase in the number of cases over the next few weeks. The officials have assumed the death of as many as 240,000 people in the US. The US is conducting more COVID-19 tests as it is getting spread in more and more cities.
As the markets are trying to rebound after the crisis, the US stock future witnessed a rise in overnight trading and indicated to growth at the open on Thursday.
The Dow futures rose 335 points, gaining about 269 points as the open on Thursday. The Nasdaq Composite and S&P 500 were also expected to open slightly higher.
In the Asian market, stocks traded mixed, as the global markets are still stable at the start of the second quarter.
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