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The stock market rebound held back by new virus cases



Stock markets on both sides of the Atlantic struggled on Monday to rebound from last week's loss as optimism to ease lockdowns was torpedoed by fears of rising coronavirus infections.

Investors trampled water "with the positive implications of facilitating lockdown measures outweighed increasing cases of COVID-19 across the United States," said Joshua Mahony, senior market analyst at online trading firm IG.

The key market in the euro area barely managed any gains at all, while London advanced a bit more when investors welcomed British Prime Minister Boris Johnson said the coronavirus crisis needed that kind of massive financial response. US President Franklin D. Roosevelt mobilized to cope with the Great Depression.

Travel shares were up, with both TUI and EasyJet making gains.

BP's stock price jumped after British energy major, hit hard by weak oil demand, announced the sale of its petrochemical business to privately owned rival Ineos.

On Wa ll Street, the Dow Jones index was around 1

50 points higher at the opening clock.

Previously, Asian stock markets had thought in response to rising virus cases in the United States, and after China imposed a strict lockdown of nearly half a million people in a province around Beijing to contain a fresh cluster, with a city official calling the situation " serious and complicated ".

Los Angeles bars and six other California counties – with a common population of more than 13 million people – were ordered to close again, just over a week after reopening, while San Francisco stopped its relief.

London – FTSE 100: UP 0.4 percent at 6,186.05 points

 Bars in Los Angeles and several other counties in California have been forced to close again because of. a new spike in infections, just over a week after reopening Bars in Los Angeles and several other counties in California have been forced to close again due to a new spike in infections, just over a week after reopening Photo: AFP / Frederic J. BROWN

Frankfurt – DAX 30: UP 0.3 percent at 12 120.84

Paris – CAC 40: UP 0.1 percent at 4 914.64

EURO STOXX 50: UP 0.1 percent at 3,206.07

New York – Dow: UP 0.7 percent at 25192.51

Tokyo – Nikkei 225: DOWN 2.3 percent at 21995, 04 (close)

Hong Kong – Hang Bed: NED 1.0 percent at 24,301.28 (close)

Shanghai – Composite: NED 0.6 percent at 2,961.52 (close)

West Texas Intermediate: UP 0.5 percent to $ 38.68 per barrel

Brent North Sea Oil: UP 0.7 percent at $ 41.17

Euro / Dollar: UP to $ 1.1172 from $ 1.1219 at 2100 GMT

Dollar / Yen: UP of 107.44 Yen from 107.22 Yen

Pound / Dollar: DOWN to $ 1,2304 from $ 1,2336


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